Paulson & Co., the hedge fund run by billionaire John Paulson, may have made as much as $67 million in 25 minutes today as Lloyds Banking Group Plc lost about 5.9 billion pounds ($8.5 billion) in market value.Lloyds fell the most in 20 years after saying HBOS Plc, the U.K. lender it took over last month, would report a 10 billion- pound ($14.5 billion) pretax loss. The shares plunged as much as 43 percent in less than 25 minutes of London trading.
But seriously: adopt me.
Paulson May Have Made $67 Million in 25-Minute Lloyds Plunge [Bloomberg]
Posted by guest , Feb 13, 2009 2:43PM
HOW DARE HE MAKE THAT MUCH MONEY! SHARE IT WITH THE MASSES! REDISTRIBUTE THE WEALTH!
Posted by guest , Feb 13, 2009 2:51PM
Too contrarian, didn't bull (shit).
Posted by guest , Feb 13, 2009 2:53PM
Did he use taxpayer money?
Posted by guest , Feb 13, 2009 2:54PM
Give him an award. He outsmarted many lying CEO's.
Posted by guest , Feb 13, 2009 2:55PM
@4- learn to detect sarcasm.
Posted by Investorcluzo , Feb 13, 2009 2:56PM
perhaps we should just give paulson the tarp money. he seems to be able to make some nice short term profits.
Posted by guest , Feb 13, 2009 2:58PM
Lets say for argument sake Paulson is worth $4 billion and he made $67 million in the fund off this trade and he charges 20% of profits. 20% of 67 million is 13.4 million. As a percentage of his $4 billion net worth, 13.4 million is 0.003%. I doubt he even cares.
Posted by Investorcluzo , Feb 13, 2009 3:04PM
@7 - you're missing the point. it's not just about him, it's about his investors making money while others lose theirs.
Posted by guest , Feb 13, 2009 3:05PM
@7- who said anything about what JP cares about?
Posted by guest , Feb 13, 2009 3:09PM
That's too much money. He shouldn't be allowed to make that. Someone tax the shit out of him so he becomes disincentivized to pull a stunt like that again.
Posted by guest , Feb 13, 2009 3:09PM
It will not have a material effect on our reported earnings.
Posted by guest , Feb 13, 2009 3:12PM
It's time to jump ship from one losing hedge fund to a winning hedge fund.
Posted by guest , Feb 13, 2009 3:12PM
Erin Burnett masturbates with a fork.
Posted by guest , Feb 13, 2009 3:14PM
This is an unrealized gain. However under existing accounting rules we are required to report it. Over the term of the investment we expect to make a unreasonable return.
Posted by guest , Feb 13, 2009 3:15PM
I once flipped a coin heads 8 times in a row.
Posted by guest , Feb 13, 2009 3:15PM
He will be next in from of the Kangaroo Congress.
Elmer Fudd will be yelling - preposterous and unmitigated....
Posted by guest , Feb 13, 2009 3:17PM
@13
whats wrong with you?
Posted by Investorcluzo , Feb 13, 2009 3:20PM
@7 - since you seem to be in touch with the numbers, would you mind annualizing that return for us?
Posted by guest , Feb 13, 2009 3:22PM
@7 I think it is more like 0.3%. But more importantly, 13 million is still 13 million.
Thats how you become a billionaire; 13 mil, one half hour at a time.
Posted by guest , Feb 13, 2009 3:25PM
I think @13 is probably correct. astute observation.
Posted by guest , Feb 13, 2009 3:29PM
@13 How much for the fork. Can I use TARP money?
Posted by guest , Feb 13, 2009 3:30PM
@20, too retarded to use the google machine?
Posted by Anal_yst , Feb 13, 2009 3:45PM
@19
Exactly! That's how I've been doing it for the past 4 seconds
Posted by guest , Feb 13, 2009 4:23PM
@ Cluzo
100% of the dips on the board would give a nut for that "tiny" one day return.
Posted by guest , Feb 13, 2009 4:46PM
@24- stop pretending to have any idea who's on here...some more important ppl than you might think...note the lack of a certain story about 2 hedge funds today.
Posted by guest , Feb 13, 2009 4:51PM
@25
Please be more specific. Which hedgefunds and what story?
Posted by NotNasser , Feb 13, 2009 5:09PM
@26,
I believe @24 is referring to GLG and Och-Ziff.
And this story from Bloomberg today:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWi4Z8671nvw&refer=home
Posted by guest , Feb 13, 2009 5:11PM
will put said fork on ebay. starting bids?
Posted by KevinB , Feb 13, 2009 5:22PM
too max, didn't water
Posted by guest , Feb 13, 2009 5:23PM
Paulson=Badass
Posted by guest , Feb 13, 2009 5:23PM
Paulson=Badass
Posted by Novice , Feb 13, 2009 6:11PM
@10 Yes, we have all realized that moving the top marginal tax rate from 36% to 39.6% is pure socialism. Well, the first 3.4% was fine, but that last 0.2% increase? Socialism.
Posted by guest , Feb 13, 2009 7:02PM
Hey "Novice", did you not learn how to compute percent differences in high school chemistry?
Going from 36% to 39.6% is not a 3.6% increase, it's a 10% increase you dolt.
Posted by guest , Feb 13, 2009 7:06PM
What I want to know is why all these people are talking their books YTD. You all lost 40% last year, and you'll lose 40% this year. Just give up, and send our money back.
Thanks.
Posted by guest , Feb 13, 2009 7:34PM
@32- um, and what about "capital gains" vs "ordinary"- care to define that one for us, Genius?
Posted by Big Q , Feb 14, 2009 9:05AM
Paulson possess the rare combination of genius (or at very least extreme intelligence), incredible work ethic and humility. He is a very nice person. It is hard to rationalize anyone making so much money, but if anyone deserves it, it is he.
Posted by danasti , Feb 14, 2009 1:38PM
Prison!
Why not Treasury Sec?
Posted by guest , Feb 14, 2009 6:25PM
@37- because they were being sarcastic, halfwit.
Posted by guest , Feb 16, 2009 9:47AM
@36 - "It is hard to rationalize anyone making that much money" WHAT??
It is hard to rationalize someone being able to take a round bat, swing it at a round ball moving towards them at 90+mph, and then hit that ball several hundred feet over a wall.
But just because not everyone can do it doesn't mean some people shouldn't be allowed to, there is no "rationalization" of it necessary. He took a swing, hit a home run and deserves what comes of it. Would it be hard to "rationalize" if he struck out?
I think we still live in America, right? Or wait, do we . . .
Posted by Cincinnatus C , Feb 16, 2009 4:20PM
#33: it depends on if you express it percentage terms or in basis points. he wasn't necessarily wrong.
Posted by Cincinnatus C , Feb 16, 2009 4:21PM
#33: it depends on if you express it percentage terms or in basis points. he wasn't necessarily wrong.
Posted by guest , Feb 17, 2009 12:56AM
OZM is a piece of shit firm. All of the money is wasted on the Solo 57 address, etc.
The Master fund is garbage. Over 500 positions, down over 20%, pure shit.