During this whole Michael Burry-Alan Greenspan “Why won’t you just admit you were wrong?” – “Shut up, lucky boy,” argument, remember: Greenspan works for John Paulson.
That’s why he makes this comment, which pretty much alludes to Paulson-the-genius:
“There’s a very small group, most of whom are my friends, who got it right for the right reasons and who have done it time and time again.”
“There’s a relatively small but not negligible group, who got it mostly by luck.”
In Michael Lewis’ book, The Big Short, he comes right out and says that Paulson only started betting against the housing market a full year after Michael Burry. Up until Lewis’ book, Paulson had been the hero of the financial crisis. Now all of a sudden Burry stole the spotlight.
Basically, Greenspan looks pissed on behalf of his good friend (and employer).
Who else saw the financial crisis coming? Find out in the 10 greatest trades of all time >
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