Friday, 29 August 2014
Last updated 11 hours ago
Sep 10 2007 | 11:07am ET
Bad bets on the U.S. subprime mortgage market, as shown countless times in the past few months, can be deadly—or at least markedly unpleasant—for hedge funds. Good bets? They can be unspeakably lucrative.
And no one, it seems, bets as well as John Paulson and his Paulson & Co.: The $4.5 billion Paulson Credit Opportunities Fund, set up last year for the express purpose of betting against subprime, is reportedly up a remarkable 410% year-to-date, after an August surge of 26.67%. A second fund, the $2.3 billion Credit Opportunities II, soared 32% last month and is up 229.67% year-to-date.
The dramatic positive performance has more than doubled the firm’s assets under management to $20 billion.
Paulson’s event-driven fund, which primarily invests in distressed debt, is up 68.52% year-to-date after adding 5.21% in August. Paulson’s Midas touch extends even to his non-credit offerings: His flagship merger arbitrage is up 43% in 2007, though it was essentially flat (comparatively) last month, rising just 0.56%.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...