Just before the 2008 financial crisis, Fir Tree predicted that homeowners would keep making mortgage payments even as the value of their homes plummeted. That bet has paid off. The hedge fund has made $2.6 billion, roughly half of which came from homeowners making payments on underwater mortgages, the Wall Street Journal reported. The other half came from forcing banks to pay up on defaulted loans. Like investor John Paulson, the company banked on the […]
source https://therealdeal.com/2018/12/26/this-hedge-fund-is-making-billions-off-distressed-borrowers/
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