Diameter’s Winning First Brands Bet Goes ‘Horribly Wrong’
Bottles of Fram synthetic high mileage motor oil at an auto parts store in Oklahoma City, Oklahoma, US.
Photographer: Nick Oxford/BloombergAfter Scott Goodwin and Jonathan Lewinsohn nailed a short bet on First Brands Group, an auto-part supplier that rattled credit markets when it collapsed last year, the two doubled down with a reverse wager — hoping for a second payout.
The move still haunts them.