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

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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 be identified because the information is private...Citigroup’s private bank in May advised clients not to add money to the Paulson funds, a person familiar with the matter said at the time. [Bloomberg]

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