Tuesday, 21 October 2014
Last updated 11 hours ago
Dec 1 2010 | 10:14am ET
John Paulson already owns one of Manhattan's larger townhouses. But what's $2.85 million for a midtown pied-a-terre to a hedge fund billionaire?
Paulson, who made billions shorting the real-estate market three years ago but has since become more bullish—telling an audience in New York in September, "If you don't own a home, buy one. If you own one home, buy another, and if you own two homes buy a third and lend your relatives the money to buy a home." Now, he's taking his own advice, buying what appears to be his fourth residence and second in New York city.
The new digs are quite modest by Paulson's standards, with just 1,800 square feet. By contrast, his 86th Street townhouse measures up at 28,500 square feet, his Hamptons estate 15,000 square feet and his eight-acre Aspen, Colo., getaway 12,500 square feet. But the speculation is that Paulson won't live at the 26th-floor apartment across the street from St. Patrick's Cathedral, and would instead use the condominium as a guest house for friends, family and business associates.
And Paulson got a deal on the digs, paying 23% less than the apartment was listed for last year.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...