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]
HOW DARE HE MAKE THAT MUCH MONEY! SHARE IT WITH THE MASSES! REDISTRIBUTE THE WEALTH!
Too contrarian, didn’t bull (shit).
Did he use taxpayer money?
Give him an award. He outsmarted many lying CEO’s.
@4- learn to detect sarcasm.
perhaps we should just give paulson the tarp money. he seems to be able to make some nice short term profits.
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.
@7 – you’re missing the point. it’s not just about him, it’s about his investors making money while others lose theirs.
@7- who said anything about what JP cares about?
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.
It’s time to jump ship from one losing hedge fund to a winning hedge fund.
Erin Burnett masturbates with a fork.
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.
I once flipped a coin heads 8 times in a row.
He will be next in from of the Kangaroo Congress.
Elmer Fudd will be yelling – preposterous and unmitigated….
@13
whats wrong with you?
@7 – since you seem to be in touch with the numbers, would you mind annualizing that return for us?
@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.
I think @13 is probably correct. astute observation.
@13 How much for the fork. Can I use TARP money?
@20, too retarded to use the google machine?
@19
Exactly! That’s how I’ve been doing it for the past 4 seconds
@ Cluzo
100% of the dips on the board would give a nut for that “tiny” one day return.
@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.
@25
Please be more specific. Which hedgefunds and what story?
@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
will put said fork on ebay. starting bids?
too max, didn’t water
Paulson=Badass
Paulson=Badass
@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.
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.
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.
@32- um, and what about “capital gains” vs “ordinary”- care to define that one for us, Genius?
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.
Prison!
Why not Treasury Sec?
@37- because they were being sarcastic, halfwit.
@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 . . .
#33: it depends on if you express it percentage terms or in basis points. he wasn’t necessarily wrong.
#33: it depends on if you express it percentage terms or in basis points. he wasn’t necessarily wrong.
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.