AFire

THE FINANCIAL TIMES reports:

A rogue trader’s losses can get them fired. In the worst instance, they can sink a company. For Zillow, its experience falls somewhere between those extremes.

The online property company’s app hooked American users who scrolled through endless home listings. Three years ago it opened a new door, effectively becoming a hedge fund that traded houses. In the quarter that just ended, it purchased nearly 10,000 homes. Unfortunately, it only sold about 3,000.

Zillow admitted that it ...

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Zillow