Monday, 22 September 2014
Last updated 3 hours ago
Apr 25 2014 | 10:05am ET
Puerto Rico may be in economic extremis at the moment. But John Paulson believes the U.S. territory will survive, and thrive, to stake its place among the most important financial centers in the world.
Paulson, who was in the island’s capital, San Juan, yesterday for the Puerto Rico Investment Summit, predicted that Puerto Rico would become the Singapore of the Caribbean. Paulson’s firm, Paulson & Co., has invested heavily in Puerto Rico, and Paulson himself briefly toyed last year with moving to the island to escape U.S. taxes.
Paulson said he is buying up land in Puerto Rico while the opportunity continues, and that he’ll build high-end developments to house people who, unlike himself, make the move to Puerto Rico to take advantage of Puerto Rican laws encouraging rich Americans to move to the island.
“We are interested in future development opportunities,” Paulson said.
Puerto Rico said it expects Paulson to invest up to $1 billion on the island by the end of next year.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.