Friday, 19 September 2014
Last updated 1 hour ago
Feb 18 2009 | 1:04am ET
When it comes to betting on the financial crisis, it seems Paulson & Co. can do no wrong. The New York hedge fund, one of the largest short-sellers of British financial stocks, apparently made some $67 million in just 25 minutes on Friday, this time betting against Lloyds Banking Group.
Paulson’s firm held a short position representing a 0.79% stake in Lloyds. The bank’s shares plunged as much as 43% in less than a half-hour after it said HBOS, the lender it acquired last month, would report a £10 billion loss.
Last month, Paulson covered his short in the Royal Bank of Scotland, earning it a £275 million profit. And in 2007, Paulson’s bets against the subprime mortgage market earned its funds triple-digit returns and helped make it one of the largest hedge fund managers in the world.
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.