Things have gone from bad to worse for Paulson & Co.
The New York-based hedge fund giant’s largest hedge fund, already down 22% through the end of July, has lost about half as much again since the beginning of this month. Both the Advantage Plus and Advantage funds are down between 10% and 11% in August, CNBC reports.
Advantage was down about 15% through July.
On the bright side, the Paulson funds haven’t been hit quite as hard as the Standard & Poor’s 500 Index, which has lost 13.37% this month.
Paulson’s funds were down by double-digits as late as September of last year before rallying to end 2010 up 11%. But the funds were never down by this much at any point last year.