That feels good to say, doesn’t it? Read more »
Think again. Read more »
Paulson made a surprise disclosure in May that he started buying Hewlett-Packard shares during the early part of 2011. His Paulson & Co. hedge fund is hardly known for plowing money into tech stocks, so the buying binge was eye-opening. … Unfortunately for Paulson and other investors, H-P shares have been clobbered in 2011, even before today’s decline. Based on back of the envelope math, Paulson’s paper loss on H-P is more than $500 million. [Deal Journal]
With half of Europe having banned short-selling and anything that might loosely resemble it, if you think that French banks are undercapitalized then you may be seeking less traditional ways to monetize that view. One approach that you might have considered is writing a fictional account of a near-future Eurozone meltdown with real names of banks and individuals and selling it pseudonymously to a major French newspaper to publish in a twelve-part serial. If you live in the U.S. that may not sound like such a great idea, since we don’t consume a lot of based-loosely-on-real-events financial fiction unless it stars Shia LeBoeuf.
But in France, where after all mime is considered a form of entertainment, there seems to be a big appetite for fictionalized financial markets, as Le Monde found out when they puplished “Terminus pour l’euro” this summer. But Le Monde’s success may just have ruined it for the rest of you:
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Great news Paul Krugman! A lack of trees and fake-doc mortgages add up to a down (31%) YTD performance for John Paulson’s levered Advantage Plus and (21.5%) YTD for the regular Advantage. But gold bugs will also have something to cheer:
There appears to be a sliver or two of good news for Paulson. His gold fund is up about 6% for the year, according to an investor’s calculations. The bulk of Paulson’s own money is in gold, and in gold-denominated share classes offered by his firm, so he’s making out much better than many of his investors. Read more »
Based on a second-hand rumor that a big hedge fund’s position is getting liquidated because of margin calls. With gold at a new record we’ll guess not. Krugman himself allows that he’d like/hope for this to be the case on account of that BusinessWeek article that implied Paulson might be smarter than him from over a year ago.