The Greatest Trade Ever

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…a. This is basically equivalent to an actuary using the price of life insurance to guess your life expectancy. It works fine, until someone closes the loop. If you read "The Greatest Trade Ever," one of the common themes is that the prices don't correlate the way they should--defaults don't affect CDS prices, for a while, then CDS prices overshoot, then defaults catch up.

I agree with you about the abrupt ending but I think it's because the article was adapted from an upcoming book ("The Greatest Trade Ever" by Gregory Zuckerman). Weird editing, but maybe the purpose was to make it abrupt enough that people who want to go get the book to figure out what happens next.