John Paulson

They were willing to ‘em a chance, but no more. Read more »

John Paulson Doesn’t Need Your Pity

The total value of the properties in Paulson & Co.’s $298.4 million Paulson Real Estate Recovery Fund has roughly doubled on paper since the fund was launched in 2009, an executive said Wednesday at the fund’s annual meeting in New York…The private-equity real-estate fund is primarily invested in raw land, as well as the hotel companies Extended Stay Hotels and CNL Hotels & Resorts Inc. The fund makes up a tiny percentage of the firm’s roughly $19 billion in assets as of August, but has nonetheless been a bright spot in a tough period for Mr. Paulson…amid major subsequent losses at his funds, according to investors, some clients have pulled out. Still, many investors have remained loyal and potential new investors have approached the firm recently about putting in money, looking to invest at a low point, said people familiar with the firm. [WSJ]

Don’t Count Out John Paulson Just Yet

Yes, he’s on track to record another annus fucking horribilis, but he’s still got another 19 trading days to turn this thing around. Anything could happen. Read more »

As does “John Paulson’s Central Park.” Or simply: “Paulson Park.” Or, at the very least, some kind of life-size bronze statue, possibly inspired by his most famous photo-shoot. He’d never explicitly ask for it, so let’s make something happen. 1) Because he’s been really quite generous and 2) This year’s been tough. We all need our pick-me-ups. Read more »

“I couldn’t even read the whole application,” he said to guffaws from several hundred young Jewish professionals gathered sipping on spirits and kosher wine at event space Chelsea Pearl to hear his advice on how to make it in finance. “I did review part of the application, about 40 pages [out of 500], and the information we provided doesn’t make any sesne to me. How could it possibly make sense to the SEC? It’s a complete waste of time,” he added. “They don’t know what they’re looking for, the just asked for everything in every possible way…I don’t believe the Dodd-Frank law is a positive piece of legislation,” he said dryly, understating his distaste. “I ordered the bill; there are 2,000 pages. I couldn’t read the table of contents. I don’t know anyone who has read it. I think it has retarded the recovery…it’s complete gobbledygook.” [AR]

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. Read more »

“John Paulson, the billionaire hedge- fund manager coming off record losses in 2011, reported increases in most of his funds in August as rising stock markets lifted the value of holdings, according to two people briefed on the returns. Paulson’s Gold Fund led gains with an 11 percent jump in August, which reduced losses this year to 15 percent, said the people, asking not to be named because the information is private. The Advantage funds, which seek to profit from corporate events such as takeovers and bankruptcies, and Paulson Enhanced, which aims to make money from companies involved in mergers, also rose last month.” [Bloomberg]