Give Paulson a Little Credit

No, not that Paulson, the other one. John Paulson.

Think you are having a good year? Probably not as good as Paulson & Co. Its largest vehicle, the Credit Opportunities Fund, was up 40% in June and 129% YTD through June 30th. The shop has tripled assets, to about $15 billion year to date, as well.

Forget about shooting against Bear, these guys have been shooting against everyone...and winning. Big time.

Awesome

The firm told potential clients a year ago that ``all credit markets are overvalued,’’ according to marketing documents.

It said at the time its credit-market focus would be ``on short opportunities in subprime mortgages,’’ according to the fund materials. The documents said Paulson expected ``further opportunities in shorting debt of banks, brokerage and finance companies,’’ followed by chances to wager on the recovery of debt prices.

John Paulson is a Bear alumni. And now, maybe the weathiest of them all.

Paulson started his hedge-fund firm in 1994. He previously was general partner at New York-based investment firm Gruss Partners. He was a managing director at Bear Stearns from 1984 to 1988 after earning a master’s degree in business from Harvard Business School in Boston.

Paulson Hedge Fund Gained 40% in June as Bear Sank
Bloomberg

Comments:

<< Back to main