John Paulson Is The Most Resourceful Hedge Fund Manager In The World

In a pinch, Steve Cohen has made himself a few zip-up fleece jackets with only a travel sewing kit and some Silly Putty at his disposal. Alone in the woods and miles from home, Ray Dalio has been known to fashion slingshots out of the remains of wildebeests. Having blown through all his 100-count packs already and in a race against the clock, George Soros has constructed condoms out of strips of bacon; old tea bags; and British pounds. According to Dealbook, however, today they must all bow down to the master.

John Paulson, the billionaire hedge fund manager, will be forever known on Wall Street as the man who made nearly billions shorting subprime mortgages. But on Monday night at the United States Open men’s singles final, DealBook witnessed Mr. Paulson do something that, while not nearly as remunerative, was almost as impressive: He turned his necktie into an ascot…As the match wore on into the night, the temperatures dropped into the 50s and spectators grappled with how to stay warm. But Mr. Paulson, unable to avail himself of the U.S.T.A.-issued blanket and possibly reluctant to spend money on a Polo fleece, chose a different approach. Early in the fifth set, Mr. Paulson removed his tie and unbuttoned the top button of his shirt. He then wrapped the tie around his neck and transformed it into an ascot, providing additional warmth for the duration of the match.

Wall Street Sits Courtside For A Marathon Match [Dealbook]

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56 Responses to “John Paulson Is The Most Resourceful Hedge Fund Manager In The World”

  1. UnemployedCoroner says:

    What you saw as an "ascot" was actually Mr Paulsons quiet attempt to throttle himself after finding out his funds latest performance numbers

  2. E. Cartman says:

    Everybody loves (to invest with) a scrappy kid on his grind. Right?

    – Every >$50mm fund ever

  3. Guest says:

    Having time to sit and watch the US Open with a faux ascot around your neck while your funds are down roughly 15% YTD (or greater?) and dramatically under performing any conceivable sort of benchmark for two consecutive years is the NKI.

  4. Pericles says:

    I don't get it…

    man makes starling discovery that a necktie can be transformed into neck warmer…not news

    wait, he is a hedge fund manager…therefore, news.

    implication being that said hedge fund manager is now no longer a man…from finance to fashion hedge fund managers know it all…is shaving your pubes "gay"? what is the best wine to go with fish? what are the signs a woman is interested in you? Ask Paulson, he sure as hell can't manage a HF but he bring the necktie/ascot back.

    -Guy who just found out about…

  5. Rabid Optimist says:

    Well, this is certainly an interesting approach to risk management. I guess he's preserving cash so he can deploy it to acquire assets at distressed valuations in the event of a black swan event, therefore realizing that option value, er, or something.

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  33. Senor Alpha says:

    Paulson sucks. Good thing Goldman backs him. Hey, Paul, you're a horrible manager. I could hit it out of the park too if the ball was on a tee.

    -The Brown Rambo

  34. James says:

    Pic or it never happened…

  35. laxbro says:

    by the end of the night I'm usually wearing my tie sideways around my head…

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    David Carradine

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