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.
His investors don’t appear bothered by the whole fake trees incident and not even all of his funds are down. You’re only hearing about the ones not doing as hot being people love to tear a big man down. Read more »
The fund run by Paulson & Co. has purchased a loan to American-art specialist Berry-Hill Galleries for about $10 million, as well as the mortgage on the gallery’s property in an elegant townhouse near the Frick Collection, according to public records and people familiar with the matter…The involvement of the fund, Paulson Credit Opportunities Master Ltd., has in effect rescued the gallery from a precarious position. [WSJ]
Not really enough to get upset or even mildly perturbed over, though in a letter to investors today re: the Chinese company, Paulson did note that “as the largest investors in the Paulson Advantage strategy,” the disappointment in the lack of trees is shared by the Paulson partners. Read more »
Really? He really needs this shit right now, after the fake trees incident? Read more »
A 2009 investment in a company that acquired assets from failed lender IndyMac is up some 200 percent, the billionaire hedge fund manager told investors when he met with some of them in Paris earlier this month. The paper gain in the value of OneWest, the newly minted Pasadena, California-based bank, is responsible for much of the 24 percent gain in Paulson’s $3 billion Recovery Fund last year and it has helped to push it up a further 4.22 percent in the first five months of 2011. The sharp gain in OneWest stands in stark contrast to the high profile losses some of Paulson’s portfolios are suffering right now thanks to declines in some of his biggest holdings including Bank of America and Citigroup and, in particular, the Toronto-listed Chinese company Sino-Forest. [Reuters]