Bessent: Mortgage book author's fund lost 100% during the subprime crisis
Scott Bessent · Scott Bessent - Macro Maven (EP.415) · Nov 4, 2024 · at 8:44
Macro investor Scott Bessent discusses the subprime mortgage trade and the importance of market imagination with Ted Seides.
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“We had a very distinguished mortgage manager come into the office. I think he'd actually written the Wiley book on mortgages and tell us what a great buy mortgages were halfway through the crisis, and I think his fund went down a hundred percent.”
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