Some of the questions focused on Mr. Paulson’s flagship fund’s performance, which he admitted was disappointing, though the tone of the call wasn’t “agitated or aggressive, even though some people were frustrated,” said a person familiar with the discussion. One person asked Mr. Paulson for a timeline of how long it would take to turn things around. He declined to specify a timeline, but said his objective was to win back the losses the fund had suffered. Mr. Paulson said the fund didn’t need a broad market rally. Instead, he noted, some specific investments would need to perform better.  [WSJ, related]

22 comments (hidden to protect delicate sensibilities)
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Comments (22)

  1. Posted by VonSloneker | August 29, 2012 at 2:30 PM

    Mr. Paulson said the fund didn't need a broad market rally. Instead he noted that a focused rally in the fake tree market would really help…

    – The Ghost of Sino-Forest

  2. Posted by Guest | August 29, 2012 at 2:31 PM

    I also suggest making a second list of all of your clients' money, in case something happens to the first list.

    – Chairman Moorhead Securities

  3. Posted by Cubs Fan | August 29, 2012 at 2:32 PM

    We too are waiting for hell to freeze over.

  4. Posted by Mexi_Cant | August 29, 2012 at 2:35 PM

    The "some" investments argument doesn't work when over 1/3 of your assets are in gold.

  5. Posted by 2 cubes over | August 29, 2012 at 2:41 PM

    there's always money in the banana stand.

  6. Posted by 2ndYearSummer | August 29, 2012 at 2:44 PM

    Watching Paulson's fund perform over the past few years has been like watching a child star try to adapt to adult life.

  7. Posted by P. Falcone | August 29, 2012 at 2:59 PM

    Finally, a guy who gets it.

  8. Posted by guest | August 29, 2012 at 3:03 PM

    So basically hoping for a 45%+ return on gold? Good luck with that.

  9. Posted by Guest | August 29, 2012 at 3:05 PM

    [youtube k4313pfaORM http://www.youtube.com/watch?v=k4313pfaORM youtube]

  10. Posted by oki | August 29, 2012 at 3:20 PM

    “He declined to specify a timeline, but said his objective was to win back the losses the fund had suffered”

    glad he cleared that up.

  11. Posted by E. Cartman | August 29, 2012 at 3:29 PM

    I says to him, "Hey, we should put it all on 7. She's got a great break, and she's strong in the stretch." He ignores me, as usual. But you don't hear me complaining, so long as my checks keep clearing.

    – Paulson & Co. Greyhound Quant

  12. Posted by 25thHourTrader | August 29, 2012 at 3:48 PM

    "One person asked Mr. Paulson for a timeline of how long it would take to turn things around"

    He doesn't know but we do.

    -D.E. Shaw CMG quants

  13. Posted by PermaGuestII | August 29, 2012 at 4:19 PM

    "Put it all on 7" = put a $5.00 bet on 7 because anything bigger moves the odds and makes the other track patrons… irritated.

    -guy who discovered this at the greyhound track in West Memphis, Arkansas.

  14. Posted by Guest | August 29, 2012 at 4:28 PM

    Buying gold @$319/oz the NKI!

  15. Posted by Guestido | August 29, 2012 at 4:42 PM

    Did you have this one queued up ready to go and were just waiting for the right article/comment?

  16. Posted by DingALing | August 29, 2012 at 5:11 PM

    Since when is the muppet show on the disney channel? My guess is once the main Jew on that show, Count von Count, passed away last week, they immediately switched to radical decision making.

  17. Posted by DingALing | August 29, 2012 at 5:12 PM

    "Look guys, once things work in my favor, I'll be doing good"

    -Every fucking investor

  18. Posted by Aging HF | August 29, 2012 at 7:27 PM

    Look, as a fund ages …matures really. therea are performance issues sometimes…

    This is to be expected

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