Friday, 19 September 2014
Last updated 34 min ago
Jul 10 2007 | 11:30am ET
Where there are big losers, there are always big winners, and in the sub-prime mortgage market, Paulson & Co. continues to hit the jackpot.
The New York-based hedge fund, which last year set up its Paulson Credit Opportunities Fund specifically to take advantage of the storm ravaging mortgage markets, is up an eye-popping 129.22% in the first half of 2007, MarketWatch reports. The fund rose an astonishing 39.95% in June on bets against the sub-prime market, as that very same market sunk a number of hedge funds, most notably one managed by Bear Stearns.
It’s been a top-notch year all-around for Paulson. While nothing can quite compare with the killing it is making in the sub-prime market, both its flagship fund and its event-driven offering are up more than 25% this year. The event-driven fund rose 10.16% last month—a bad one for many event-driven managers—and is up 29.29% in 2007, while its flagship, a merger-arbitrage fund, is up 27.72% in the first half after returning 6.15% in June.
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.