Book Review: Confidence Game

An interesting book which describes the fight of another Hedgefund hot shot, namely Bill Ackman against another financial company MBIA.

Already in the early 2000s, Bill Ackman came to the conlusion that the business model of the so called "Monoline" Insurance companies made no sense and started shorting the stock and critize it openly.

What followed was a huge backlash from the company the SEC and even Elliot Spitzer, then Attorney General in New York.

The story is well told, however there is one drawback: Different to Einhorn's Book "Fooling some people all the time", this book was written by a journalist and not by Ackman himself. It therefore doesn't offer the same insight into the "thinking" of the genius. But it is still a worthwile read and highly recommended for anyone interestes in short selling.