Friday, 19 September 2014
Last updated 4 hours ago
Jul 8 2010 | 2:08pm ET
John Paulson’s remarkable string of success is in jeopardy after a brutal June left his flagship hedge fund down nearly 9% on the year.
Paulson & Co.’s Advantage Plus Fund lost 6.9% last month. The fund is now down 8.8% through the first six months of the year, all of the losses coming during the second quarter.
Paulson’s funds have enjoyed double-digit returns in each of the last three years after the New York-based firm burst upon the scene in 2007 with a triple-digit return, betting against the subprime mortgage market.
This year, Paulson’s bullish bets on financial stocks seem to have taken its toll. And despite the poor performance and some unfriendly employment numbers, the firm is said to be sticking to its positions.
Those bets took a particular toll on Paulson’s Recovery Fund, which took a 12% beating last month. But the fund is still up 9% on the year. The firm’s gold fund also enjoyed the first half, rising 13%, and especially June, when it rose 7.3%.
Paulson’s Advantage fund, by contrast, had a rough first half, dropping 5.8% over the period, including a 4.4% June swoon.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.