In a piece today on John Paulson's 2010 performance, the Journal notes that while it was pretty good, the hedge fund manager shouldn't exactly be doing any victory dances in the end zone. Sure, 30+ percent returns, when you're managing more than $30 billion, are "very rare" in the business. But, they're just saying, JoPau probably shouldn't be doing any bragging and may in fact want to think about where he went wrong, considering in 2007 he returned 590 percent. They don't want to be critical! They're merely pointing out: no one's written a book about Paulson's 2010 trades. Perhaps feeling a bit bad, or as though they'd gone too far, they do charitably note that the $5 billion Paulson earned is a lot more than some people.
One way to view the size of Mr. Paulson's $5 billion profit: It is nearly as much as the $6.4 billion that Forbes magazine last year estimated as the total net worth of Steven Cohen, the well-known head of $12 billion hedge-fund firm SAC Capital.