Friday, 22 August 2014
Last updated 6 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 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note