Wednesday, 22 February 2017
Last updated 39 min ago
Dec 8 2008 | 1:26am ET
While the hedge fund industry saw its losing streak continue in November, John Paulson extended his winning streak.
New York-based Paulson & Co.’s largest hedge funds both added to their year-to-date gains last month, and while the average hedge fund stumbles toward 2009 with double-digit losses, Paulson’s are following up their triple-digit 2007 with a double-digit 2008.
The firm’s $10 billion Advantage Plus Fund added 3.19% in November, bringing its year-to-date returns to 33.52%. The $5 billion Advantage Fund returned 2.04% last month, and is up a more modest 21% on the year, Reuters reports.
Both funds rewarded investors with returns in excess of 100% last year, after Paulson successfully shorted subprime mortgages.