Hedge fund manager John Paulson, a 56-year-old billionaire, is having the fight of his investment life this year.
His Advantage Plus fund, for example, fell 47% in the first nine months of the year, and had disappointing results in October as well. He lost big on bets on financial stocks, which continue to underperform. That led to speculation that pension funds and other institutional investors may decide to redeem their stakes, forcing him to sell investments to meet those demands, but recent reports say that hasn't happened.
Paulson built his reputation by by betting against subprime mortgages in 2007 and 2008 and his funds profited by about $20 billion. His firm now manages roughly $30 billion, but he and his investment team control about half that.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV