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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]
The market volatility of last week was not kind to the hedge fund behemoth John Paulson, whose flagship fund was down 34 percent through Friday’s close, according to an investor who was briefed on the performance today…Paulson’s merger funds are faring considerably better, though still in the red with the enhanced levered fund down 7 percent year to date and the unlevered fund down 3 percent year to date. [CNBC]
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.
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 »