Paulson Losses Grow In November

Dec 7 2012 | 12:18pm ET

This year hasn't been as bad for Paulson & Co. as last year, but it's getting close.

The $19 billion New York-based hedge fund suffered further losses in November, all but assuring that its flagship funds will suffer their second-consecutive year of double-digit losses. Paulson's main Advantage Fund fell 3.6% in November and is now down more than 17% on the year—the more highly-levered Advantage Plus Fund is undoubtedly down more, possibly in excess of 20%, CNBC reports.

Those funds lost 36% and 51%, respectively, last year.

Paulson's pain isn't limited to his flagships: The firm's Gold Fund fell a startling 9.5% last month and is now down nearly 30% on the year.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…