Paulson Turns Fast Profit On Lloyds Short

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.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.