Friday, 31 October 2014
Last updated 10 hours ago
Jan 9 2013 | 1:21pm ET
Paulson & Co.'s 2012 was more mixed than first meets the eye.
The firm's flagship hedge funds suffered another disastrous year: Its Advantage Fund lost 14% last year after rising 3.3% in December, while the more highly-levered Advantage Plus Fund lost 19% after a 4.5% December surge. The former lost 36% in 2011 and the latter 51%.
In addition, Paulson's Gold Fund lost 25% in 2012, falling a further 5.1% in December. It lost 11% in 2011.
But the $19 billion New York-based firm other funds bounced back last year. Paulson Partners Enhanced rose 18% after a 5.7% December surge. Credit Opportunities, which lost 18% in 2011, was up 9.1% last year with a 3.4% December return, and Recovery, which dropped 28% in 2011, returned 3.9% in 2012—almost all of it last month, when it returned 3.7%.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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