John Paulson

… [John Paulson] is wading into a local housing controversy and arguing that a large-scale home proposed for a small-scale historic neighborhood on Hill Street in Southampton poses a “threat to our character” and the “peace and tranquility that makes our village what it is.” Mr. Paulson is one of some 85 area homeowners who penned letters to a local village review board. They object variously to the size, scale, scope and “visual incompatibility” of a speculative home planned on a vacant lot in an area where nearly a dozen nearby residences are more than a century old and roughly half or a third the size. The letter writers—socialites, financiers, artists, developers and the scions of a president and a governor—are opposing current plans for the 5,531-square-foot, single-family home on a 1.2-acre parcel being developed by Joe Farrell, a Hamptons builder whom critics have dubbed the “King of McMansions.” [WSJ via BI, related]

  • 08 Apr 2014 at 3:30 PM

Dear Paulson Investors

March didn’t turn out as well as everyone had hoped but, on the bright side, it could’ve been so much worse. Read more »

John Paulson sat at his desk, staring at the office supplies that were all but making a mockery of him. The gold pens. The gold paper clips. The gold-plated keyboard, identical to the ones that he’d decreed everyone in the office have, too. He’d ordered them last year, along with the gold staplers, gold tape dispensers, gold paper weights. As his analysts were begging him to dump his holdings, he was directing his secretaries to get rid of everything in the office that didn’t reflect his position–nay, his feelings– for the precious metal that wasn’t nailed down to the floor. And how had gold repaid him? How had it treated his fund? By losing something like 10,000% and spitting in his face. And yet he still would not budge. Not when gold lost him hundreds of millions. Not when his friends, people who really cared about him, took him aside and said, “I’m telling you this as a friend: she’s out there making a fool of you.”

But now, as he stared at the keyboard, all he could think was how much he hated gold. He had a right mind to kick her to the curb, and that’s exactly what he was going to do. Paulson shot up out of his chair and raised his arm to sweep the keyboard, the pens, and the paper-clips into his, yes, gold-plated waste paper basket, with one cleansing motion, when a trusted adviser came bounding through the door.

“P!” he shouted. “You’re not going to believe this.” Read more »

John Paulson Breaks Baklava With The Men Selling Greece

Greece has heard through the deeply indebted grapevine that Mr. John Paulson is interested in tropical islands. Read more »

  • 06 Dec 2013 at 6:09 PM

Christmas Come Early For John Paulson

Billionaire hedge-fund manager John Paulson posted gains in his firm’s main strategies in November, in part from an investment in Extended Stay America Inc., according to two people familiar with the matter. Paulson’s event-driven Advantage fund surged 13 percent in November and 30 percent this year, said the people, who asked not to be identified because the information is private…Paulson Partners Enhanced Fund, the leveraged version of the firm’s merger-arbitrage strategy, gained 2.3 percent in November and 28 percent this year, the people said. Paulson Partners increased 1.2 percent last month and 16 percent year-to-date. The Recovery Fund, which seeks to benefit from growth in the economy, is the firm’s best-performing strategy in 2013. The fund rose 6.5 percent in November, bringing returns since the start of the year to 55 percent, according to the people. The Paulson Credit Opportunities Fund increased 3.2 percent last month, bringing returns for 2013 to 20 percent, the people said. Paulson’s Advantage Plus fund, which seeks to profit from corporate events such as takeovers and bankruptcies and uses leverage, rose 6 percent in November and 28 percent this year, according to the people. [Bloomberg]

  • 05 Dec 2013 at 3:02 PM

Greek-Focused Hedge Fund Doing Okay For Itself

John Paulson’s pianos have also helped Dromeus Capital. Read more »

Last month, John Paulson sat down with his investors and told them he wouldn’t personally be putting any more money into his worst-ever investment thesis, gold. This pronouncement came several months after Mr. Paulson made clear he didn’t want to talk about the shiny stuff anymore, since all of his other investments are doing swimmingly and because he is basically the only person still losing money on his chastened-but-still-extant belief that his gold investments, while down 60%-plus this year, will richly reward him when people realize that all the Fed has been doing for the last five years is setting us up for one hell of an inflationary headache.

Well, if he’s going to keep his new pledge, J.P.’s going to have to ignore what must look to him like some pretty attractive prices for the precious metal: After looking briefly like it had maybe kinda sorta hopefully turned a corner, gold went and had its worst November since the Carter administration. Read more »