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.
According to investor reports and people close to the fund, Paulson International is up 3.4% year-to-date, Paulson Credit Opportunities is up 5%, and Paulson Recovery is up just about a percent. These aren't strikingly big numbers (not in the way that down 18% grabs your attention), but given that the average hedge fund is down 1.2% so far this year, according to Hedge Fund Research, they're actually pretty decent. And it seems that investors are giving Paulson the benefit of the doubt. There have been few redemptions, and one investor tells Fortune that he has no plans to abandon ship. As one Paulson rival notes, lots of guys who have long made money are in the red this year, and you don't see headlines about it. They're just not famous enough, beyond the confines of Wall Street, for people to much care.
John Paulson: Behind The Backlash [Fortune]