Tags: hedge fund managers, Joelle Mevi, John Paulson, New Mexico, Paulson and Co
As you may or may not have heard, the last 18 months have not been the best of times for John Alfred Paulson. His Advantage Plus fund was down fifty percent last year, he got screwed big time by a bunch of fake trees, his proclamation that 2011′s losses were but an “aberration” has not exactly been helped by the fact that AP was down 10 percent through May 2012, Morgan Stanley’s prime brokerage put Paulson and Co. on a list of firms it warns clients not to invest with, some investors ” have expressed their growing unease,” and others have called it quits. But! JP can take solace in knowing that at least one Limited Partner, and probably more, are so not over him.
New Mexico, which stuck by Paulson through last year’s growing losses, pulled its $40 million investment in the first quarter. “From time to time, I do check on John Paulson to see whether we did the right thing,” said Joelle Mevi, the state’s chief investment officer. “And I see that we did.”
No word on whether or not New Mexico downs two bottles of wine and then logs onto Facebook to stalk Paulson’s page and mutter “skank” under her breath when she sees JP with more attractive LPs but it seems prett-ay obvious.
John Paulson’s Returns Falter Again; Investors Fret [Reuters]