John Paulson's Very Bad YearBy
John Paulson, the founder of Paulson & Co., one of the world’s largest hedge funds, has close-cut black hair, dark eyes, and a soft voice. There’s a fuss when he arrives, befitting a man who made one of the biggest fortunes in Wall Street history, as his general counsel and PR consultant jostle for seats next to him. Paulson’s decision to buy credit-default insurance against billions of dollars of subprime mortgages before the market collapsed in 2007 earned him almost $4 billion personally and transformed him from an obscure money manager into a financial legend. Then came the kind of disastrous run that can unmake a career. In 2011 he lost billions.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Bitcoin Futures Deliver Wild Ride as Debut Brings Rally, Halts
- Investors Told to Brace for Steepest Rate Hikes Since 2006
- World's Second-Tallest Building Opens With a Whimper After Delay
- A Manager of $42 Billion Fears Bubble in World's Biggest Stocks
- Longtime NPR Host Tom Ashbrook Is Facing Misconduct Allegations