BofA (BAC) Advisors to Grill Hedge Fund Giant Paulson Over Lackluster Performance
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EPS Growth %: -35.5%
Financial Fact:
Other income: -112M
Today's EPS Names:
MGT, RXN, KID, More
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Paulson...John Alfred Paulson.
America...Bank of America.
Two great names, one amazing conference call.
According to reports out Monday, BofA's (NYSE: BAC) Wealth Managment division and Paulson & Co.'s John Paulson will hold a conference call Tuesday, allowing BofA advisors and clients a chance to take it to Paulson over year-to-date performance...or, lack thereof.
The news comes just days following headlines that Citigroup's (NYSE: C) Private Bank was pulling money out of Paulson's funds, to the sum of $410 million.
Disclosure hasn't been made about how much client money BofA/Merrill Lynch and U.S. Trust advisors have invested with Paulson.
In 2012, Paulson's Advantage Plus fund is off 18 percent, while his Advantage fund was down 13 percent. Both of the metrics are better than declines in 2011 of over 50 percent and 36 percent, respectively.
BofA typically hosts calls with hedge funds, but headlines could be interesting on the call. Paulson has staked-it out in gold for a while now, but prices haven't rebounded quite as nicely as the venerable fund manager expected.
For more on Paulson, click here. Shares of BofA ended the session down 1.1 percent.
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America...Bank of America.
Two great names, one amazing conference call.
According to reports out Monday, BofA's (NYSE: BAC) Wealth Managment division and Paulson & Co.'s John Paulson will hold a conference call Tuesday, allowing BofA advisors and clients a chance to take it to Paulson over year-to-date performance...or, lack thereof.
The news comes just days following headlines that Citigroup's (NYSE: C) Private Bank was pulling money out of Paulson's funds, to the sum of $410 million.
Disclosure hasn't been made about how much client money BofA/Merrill Lynch and U.S. Trust advisors have invested with Paulson.
In 2012, Paulson's Advantage Plus fund is off 18 percent, while his Advantage fund was down 13 percent. Both of the metrics are better than declines in 2011 of over 50 percent and 36 percent, respectively.
BofA typically hosts calls with hedge funds, but headlines could be interesting on the call. Paulson has staked-it out in gold for a while now, but prices haven't rebounded quite as nicely as the venerable fund manager expected.
For more on Paulson, click here. Shares of BofA ended the session down 1.1 percent.
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Conference Calls, Hedge Funds, Trader TalkRelated Entities
Citi, Merrill Lynch, Bank of America, Paulson & Co. (PCI), Hedge Funds
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