Thursday, 29 January 2015
Last updated 55 min 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…