John Paulson having another bad year

H

hughb

and it may get worse here pretty soon. The deadline for redemption notifications is October 31.

http://finance.yahoo.com/news/pauls...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

From the article:

"In my 20-plus years, I have never seen someone go from so high to so low in such a time period," said Brad Alford, who runs the Atlanta investment firm Alpha Capital Management and had originally invested about $10 million of his high net worth clients' money in Paulson. That figure, Alford estimated, is now closer to $3 million.
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He's a good portfolio manager.

Before he was big he was doing very well as a risk arb guy. He had amassed a personal fortune of 100MM running a few hundred million dollar fund. So he must have been putting up consistent returns for many years.

He hit the lottery ticket and the next year is expected to run a 20 Billion dollar fund. How's he going to do that? He's used to running a 400MM fund.
 
Fun fact: Trade your own money differently than your fund:

"His flagship fund, Paulson Advantage Fund, was down over 40% as of September 2011. During that same time, Paulson had invested most of his personal fortune in gold and it had grown by $3.1 billion from September 2010 to September 2011."
 
Quote from newwurldmn:

He's a good portfolio manager.

Before he was big he was doing very well as a risk arb guy. He had amassed a personal fortune of 100MM running a few hundred million dollar fund. So he must have been putting up consistent returns for many years.

He hit the lottery ticket and the next year is expected to run a 20 Billion dollar fund. How's he going to do that? He's used to running a 400MM fund.
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Not true

He had a 25 billion dollar + fund in 2009 and 2010 after his huge returns in 2007 and 2008 and still beat the market. So no, it had nothing to do with size.
 
Quote from Pekelo:

Fun fact: Trade your own money differently than your fund:

"His flagship fund, Paulson Advantage Fund, was down over 40% as of September 2011. During that same time, Paulson had invested most of his personal fortune in gold and it had grown by $3.1 billion from September 2010 to September 2011."
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Also wrong, he has gold class for all of his funds versus the dollar class which he promotes and advocates to his clients. He has been pushing gold to all of his clients since 2009. He doesnt trade differently.
 
Quote from chaykapwr:

Also wrong, he has gold class for all of his funds...
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So? Obviously there was a "slight" difference between the fund's and his private performances, so that gold position must have been minuscule in the fund.

In short, your point is irrelevant... But if he had a decent % of gold position that just means that the rest sucked even more than -40%....
 
Quote from Pekelo:

So? Obviously there was a "slight" difference between the fund's and his private performances, so that gold position must have been minuscule in the fund.

In short, your point is irrelevant...
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http://www.bloomberg.com/news/2012-...-tell-clients-gold-fund-will-beat-others.html

http://www.fiercefinance.com/story/john-paulsons-gold-positions-anger-investors/2012-05-24

There you go, his clients actually reject his advice for gold and want him to cut the position.

Paulson is the largest holder of GLD shares, so no its not minuscule

Its obvious he is looking forward 3-4 years and is willing to take a hit in the short term
 
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