Thursday, 26 November 2015
Last updated 1 day ago
May 18 2010 | 11:37am ET
Paulson & Co. boosted its bet on Bank of America in the first quarter, as well as adding a pair of bets on betting.
The New York-based hedge fund increased its stake in BofA by more than 10% in the first three months of the year, adding 16.8 million shares to bring its kitty to 167.8 million, worth $2.99 billion. The BofA stake is Paulson’s second biggest position; all told, the firm’s financial bets grew by 6.5% on the quarter.
Paulson did sell off its Fifth Third Bankcorp stake in the first quarter. But he held onto his big stakes in Citigroup, JPMorgan Chase and Wells Fargo.
Paulson also took a pair of stakes in casino companies, buying 40 million shares of MGM Mirage and 4 million shares of Boyd Gaming. Paulson is now the second-largest shareholder of MGM, and the fourth-largest of Boyd.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…