Paulson and Co

  • lehmanbrothers

    News

    Hedge Funds Aren’t Going To Say They’re Thrilled Lehman Bit The Big One But…

    A small group of firms that waded into the morass in the aftermath of the financial crisis, including Paulson & Co., King Street Capital Management LP, Varde Partners Inc., Halcyon Asset Management LLC and Solus Alternative Asset Management LP have made billions of dollars trading in the debt. As claims are being paid out, often […]

    / May 13, 2014 at 3:27 PM
  • stevecohen (3)

    News

    Whatever Doesn’t Kill Steve Cohen Makes Him Stronger

    For the most part, 2013 was not kind to Steve Cohen. The Feds put his balls in a jar and put that jar on Preet Bharara’s desk. One of his ex-employees went to trial for (and was later found guilty of) masterminding the “most lucrative insider trading scheme ever.” Other former traders helped bring the […]

    / May 6, 2014 at 1:37 PM
  • amd_paulson1

    News

    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.

    / Apr 8, 2014 at 3:30 PM
  • johnpaulsonpaulsonandco

    News

    A New Chapter Begins For Wall Street’s Greatest Love Story

    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 […]

    / Feb 19, 2014 at 2:47 PM
  • johnpaulsonposing

    News

    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 […]

    / Dec 6, 2013 at 6:09 PM
  • johnpaulson

    News

    New York-Based Romanians Have A Bone To Pick With John Paulson

    What they lack in numbers they make up for in signage, flyers, and to the point demands (“GTFO”…of your investment in a company that wants to mine gold in a Romanian village).

    / Nov 14, 2013 at 11:34 AM
  • johnpaulsonposing

    News

    John Paulson Has Earned Himself Another Celebratory Photo Shoot

    Hedge fund manager John Paulson, known for huge gains followed by heavy losses in some of his funds, extended his portfolios’ winning streak in September, leaving all of them with double-digit gains for the year, a person familiar with the numbers said on Monday…Paulson told investors that his Recovery Fund gained 4.2 percent in September […]

    / Oct 7, 2013 at 5:18 PM
  • 24karatwine2

    News

    Confidential To John Paulson: We’ve Got Your Next Investment Idea Right Here

    A couple of ASU grads come up with a golden idea worth celebrating. It’s called 24 Karat Wines, a sparkling wine laced with gold. We were there for the big launch. “Tonight people are going to see what me and my partner Keagan love,” says Nicholas Cower, CEO of 24 Karat Wines. What they love […]

    / Aug 15, 2013 at 2:46 PM
  • John_Paulson-260x260

    News

    Would It Kill You To Not Focus On John Paulson’s Flaws Every Second Of Every Day?

    Why do people (investors, media, random passersby on the street, this lady) like to harp on all the money John Paulson has lost in the past couple years, despite the fact that they could be talking about his new hot-ish streak? Why can’t he get a little credit for all of his great investment ideas, […]

    / Jun 7, 2013 at 2:14 PM
  • johnpaulsonposing

    News

    Whatever Doesn’t Kill John Paulson Makes Him Stronger!

    Billionaire John Paulson, the hedge- fund manager seeking to reverse two years of losses in some of his strategies, lost 27 percent in his Gold Fund last month after the precious metal and related securities plummeted, according to two people familiar with the matter. The loss brings the strategy’s decline to about 47 percent this […]

    / May 7, 2013 at 5:16 PM
  • john paulson

    Hedge Funds

    Paulson And Co’s Favorite Investment Will Lose (More) Money Before It Makes Money, Says Paulson And Co

    Billionaire investor John Paulson told investors on Wednesday he is staying the course on gold even though there may be more short-term volatility in the price of the metal. The New York-based hedge fund manager has long stuck by his thesis that gold will someday be a powerful hedge against inflation, and it was no […]

    / Apr 25, 2013 at 4:44 PM
  • johnpaulsonpaulsonandco

    News

    John Paulson Has Figured Out A Way To Save On Taxes Without Having To Run A Fund That Loses 58% First

    A couple weeks back, we went on the record to say that John Paulson was in the early stages of a grand comeback. The hedge fund manager, who had become a billionaire many times over thanks to his subprime bets, only to spend the last several years sucking a magnificent amount of wind, had finally […]

    / Apr 12, 2013 at 2:53 PM
  • johnpaulsonposing2-260x110

    Hedge Funds

    All John Paulson Does Is Win

    Starting today! Every day before it (not including 2007-2009) shall never be spoken of again! Don’t even entertain the thought of uttering ‘2010-2012,’ in his presence or otherwise! Don’t say it, don’t even think it! Someone run out and get some holy water because this is nothing short of a rebirth! Today is the first day of the rest of his life!

    / Apr 4, 2013 at 3:45 PM
  • john paulson

    Hedge Funds

    John Paulson Does Not Have To Defend Himself To You, Hugh

    Remember Paulson & Co’s investment in Sino-Forest? One of the less than stellar trades that helped contribute to 2011 being an annus fucking horribilis for the hedge fund? Got a former investor named Hugh F. Culverhouse all riled up, shouting about “gross negligence” and “failure to properly monitor” the situation and making claims that it was clear no one at P&C bothered to perform any due diligence on the company, because if they did, “the Paulson companies could…have foreseen Sino-Forest’s problems?” Things actually worked out for JP&Co on this one.

    / Apr 2, 2013 at 6:25 PM
  • John-Paulson

    News

    John Paulson Won’t Work From The Beach, Will Pay Your God Damn Capital Gains Taxes

    Despite reports to the contrary. Nueva York it is.

    / Mar 15, 2013 at 1:07 PM
  • johnpaulsonpaulsonandco

    News

    John Paulson: Go Out And Get Your Dream House Today

    Speaking to an audience at Manhattan’s 92nd Street Y Tuesday night, Paulson said the housing market had shown a “strong recovery” with prices up and the number of homes for sale at a decade low. Those factors will likely put pressure on builders to create new product, he noted, creating some of the “most positive […]

    / Jan 23, 2013 at 1:26 PM
  • Hedge Funds

    John Paulson Is Up

    For the year beginning Dec. 1. Otherwise, things are not so good.

    / Jan 8, 2013 at 5:37 PM
  • john-paulson_82845s

    News

    Morgan Stanley Suggests Paulson And Co ‘Advantage’ Investors Pull Their Money And Run

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

    / Dec 19, 2012 at 5:08 PM
  • johnpaulson

    Hedge Funds

    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 […]

    / Dec 6, 2012 at 2:48 PM
  • johnpaulsonposing

    Hedge Funds

    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.

    / Dec 3, 2012 at 3:06 PM
  • johnpaulson

    Hedge Funds

    Paulson and Co Investor Finds New And Interesting Way To Kick John Paulson When He’s Down

    As Paulson and Co employees, clients, and people named John Paulson do not need to be told, the past year and half has not been the most joyous of times for the hedge fund giant. After making billions shorting subprime mortgages, the firm ended 2011 down 55 percent, was down 16 percent through the first half of 2012, and as of July, saw assets under management decline 44.9 percent to $21 billion from $38.1 billion, due to a combination of unfortunate performance and redemptions by investors so angry at the fund that they’ve felt the need to repeatedly tell anyone who will listen that parting ways with P&C was among the best if not the best decision they’ve ever made. One investor that hasn’t had to consider voicing its unhappiness to the press or even worry about losing money at all? The 92nd Street Y. Last November Paulson guaranteed that he would personally cover their losses, whatever they turned out to be, come year-end. And the generosity did not stop there: for this one investor only, Paulson offered his services pro-bono, waiving all fees. So while he probably didn’t expect representatives of the Y to rent a skywriting plane to proclaim their love and appreciation for him over midtown, lobby the city of New York to get 92nd renamed Paulson Street, or have his face tattooed to their chests, he probably also figured they wouldn’t turn around and hit him the mother of all slaps in the face.

    In this case the declaration that despite the highly favorable terms of their arrangement, any involvement with P&C still felt a tad too risky for everyone’s comfort level.

    In the midst of the financial crisis, the 92nd Street Y came up with a sweetheart deal for its endowment: investments in funds run by the likes of John Paulson, Marc Lasry, and other hedge-fund luminaries that were fee-free and guaranteed against losses. The strategy performed well for several years, said people familiar with how it worked, as the Y benefited from risk-free investing in some of the fund industry’s most successful strategies. But, concerned about the impact of a catastrophe in which a money manager couldn’t repay losses and eager to construct a more diversified portfolio, the Y recently opted to redeem its hedge-fund investments, these people said, and rebuild its financial strategy from scratch.

    Paulson himself is worth $15 billion, so a catastrophe in which he couldn’t repay the Y’s losses would have to be a big one. And don’t give him some line about how you’re pulling out of all hedge fund investments and it’s not personal. You could have let him have this.

    Despite Sweet Deal, 92nd Street Y Redeems Paulson Money [CNBC]
    Earlier: John Paulson: I’ll Get The Losses This Year, Next Year We Go Dutch?

    / Oct 26, 2012 at 1:47 PM
  • News

    He’s Too Modest To Ask, But “John Paulson’s Bethesda Fountain” Does Have A Nice Ring To It

    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.

    At a news conference at Bethesda Fountain in Central Park on Tuesday morning, Mayor Michael R. Bloomberg and the Central Park Conservancy announced that John A. Paulson, the hedge fund billionaire, along with the Paulson Family Foundation were giving $100 million to the Central Park Conservancy. It is believed to be the largest gift ever to a public park, more than doubling the $40 million given this year to build a cycling track in Brooklyn Bridge Park. Mr. Paulson, a lifelong New Yorker, said that as an infant he was pushed around in a baby carriage in the park and that he later remembered going to Bethesda Fountain as a teenager and seeing it covered in graffiti, with no water flowing. When asked at the news conference what prompted the gift, Mr. Paulson said: “Walking through the park in different seasons, it kept coming back that in my mind Central Park is the most deserving of all of New York’s cultural institutions. And I wanted the amount to make a difference. The park is very large, and its endowment is relatively small.” The park’s current endowment stands at $144 million. Half of Mr. Paulson’s gift will go to the endowment, while the other half will be used for capital improvements. Mr. Paulson mentioned two that he considered important: Restoring the park’s North Woods, and sprucing up the Merchant’s Gate entrance at the park’s southwest corner, the most heavily used entrance.

    Hedge Fund Manager Donates $100 Million For Central Park [NYT]

    / Oct 23, 2012 at 2:39 PM
  • News

    John Paulson Is The Most Resourceful Hedge Fund Manager In The World

    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 not wanting to catch anything, 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.

    John Paulson, the billionaire hedge fund manager, will be forever known on Wall Street as the man who made nearly billions shorting subprime mortgages. But on Monday night at the United States Open men’s singles final, DealBook witnessed Mr. Paulson do something that, while not nearly as remunerative, was almost as impressive: He turned his necktie into an ascot…As the match wore on into the night, the temperatures dropped into the 50s and spectators grappled with how to stay warm. But Mr. Paulson, unable to avail himself of the U.S.T.A.-issued blanket and possibly reluctant to spend money on a Polo fleece, chose a different approach. Early in the fifth set, Mr. Paulson removed his tie and unbuttoned the top button of his shirt. He then wrapped the tie around his neck and transformed it into an ascot, providing additional warmth for the duration of the match.

    Wall Street Sits Courtside For A Marathon Match [Dealbook]

    / Sep 11, 2012 at 6:19 PM
  • Hedge Funds

    Peyton Manning Isn’t The Only Legend In The Midst Of A Return To Glory

    “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 […]

    / Sep 10, 2012 at 4:13 PM
  • Hedge Funds

    Once Paulson And Co’s Investments Go Up Instead Of Down They’ll Be All Set

    Some of the questions focused on Mr. Paulson’s flagship fund’s performance, which he admitted was disappointing, though the tone of the call wasn’t “agitated or aggressive, even though some people were frustrated,” said a person familiar with the discussion. One person asked Mr. Paulson for a timeline of how long it would take to turn […]

    / Aug 29, 2012 at 2:07 PM
  • interesting turns of events

    For The First Time In Its Life, Citigroup Gets To Be Tired Of Someone Else’s Underperformance

    Citigroup’s private bank is pulling about $500 million from Paulson & Co., the hedge fund run by billionaire John Paulson seeking to reverse record losses in 2011, according to two people familiar with the matter. The private bank is redeeming from Paulson’s Advantage Fund and Advantage Plus Fund, said the people who asked not to […]

    / Aug 23, 2012 at 1:37 PM
  • Hedge Funds

    So Long As John Paulson Doesn’t Work Up The Nerve To Send That Redemption Letter To A Certain Hedge Fund Located At 1251 Avenue of the Americas, New York, NY, 10020, Paulson & Co. Will Be Around For Years To Come

    Was 2011 a very kind year to John Paulson? No, it was not. Is 2012 shaping up to be any different? Not really, no. His proclamation that last year’s losses were but an “aberration” has not exactly been backed by the fact that AP was down 16 percent through June, Morgan Stanley’s prime brokerage put Paulson and Co. on a list of firms it warns clients not to invest with, and a few clients have not only quit the fund but told anybody who will listen that leaving was one of the best decisions they’ve ever made. Also not great is the fact that assets under management have declined 44.9 percent to $17 billion from $38.1 billion, due to a combination of unfortunate performance and redemptions. Happily, though, there is a silver lining that perhaps few people have thought of, namely that John Paulson’s got mucho of his own dinero in the firm and he hasn’t given up on the place yet.

    …the firm has a saving grace: About 60%, or $12.6 billion of June 30 assets are from employees. Observers said it is impossible to know how much of that employee asset pool belongs to John Paulson, the firm’s founder and president, but they speculate it is the vast majority. (By contrast, about 31% or 32% of Paulson & Co.’s assets are from institutional investors.) One source said the hedge fund manager’s size at its peak — before the performance decline — combined with the high percentage of employee capital have insulated Paulson from the crippling impacts that performance declines of this size and client redemptions would wreak on other firms.

    “It’s impossible for any other hedge fund firm to lose $17 billion and still be in business,” said the source, who asked for anonymity. “The firm will not fall apart because of this. Just John (Paulson’s) money alone is enough to keep the firm in business. But he is not going anywhere. There are absolutely no signs that John Paulson intends to do anything other than manage his way out of this.”

    This scenario would also have to assume that the firm stops losing money but regardless, suck on the above, New Mexico.

    Paulson Tries To Bounce Back [P&I via Dealbook]

    / Jul 23, 2012 at 3:56 PM
  • Hedge Funds

    Former Paulson Protégé In A Charitable Places About Losses

    Remember Paolo Pellegrini? For those who need a refresher, the Italian Stallion is the former Paulson and Co. employee who helped John come up with a highly lucrative subprime trade, later leaving the firm to set up his own shop (the delightfully named PSQR AKA Pellegrini Squared) after some reported friction re: whether or not […]

    / Jul 11, 2012 at 11:47 AM

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