Monday, 22 September 2014
Last updated 2 hours ago
Jul 24 2012 | 11:43am ET
John Paulson took a misery loves company approach to his second-quarter conference call with investors, using it to cast doubt on the future of the eurozone.
The Paulson & Co. founder said that there is a 50% chance that an event leading to the breakup of the euro will occur within two years. And the collapse could come in as soon as three months, he added.
It is not the first time that Paulson has called into question the euro's future. In February, he warned that Greece could default by March—an eventuality that was avoided by European policymakers. Paulson also called the euro "structurally flawed."
The upshot, according to Paulson, is that sovereign yield spreads will likely rise.
Paulson is certainly hoping his own funds rise with them: Most are down double-digits this year after double-digit declines last year. Paulson told investors that he has reduced the net exposure of some of his funds.
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.