BofA (BAC) Advisors to Grill Hedge Fund Giant Paulson Over Lackluster Performance
Get Alerts BAC Hot Sheet
Price: $37.91 --0%
Revenue Growth %: -1.9%
Financial Fact:
Dividends paid: 0.08
Today's EPS Names:
WF, CWBC, GLTO, More
Revenue Growth %: -1.9%
Financial Fact:
Dividends paid: 0.08
Today's EPS Names:
WF, CWBC, GLTO, More
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BofA: Equities and bonds witnessed weekly inflows; no landing much more probable
- GXO Logistics, Inc. (GXO) Launches Notes Offering
- Small stocks still very cheap vs. large - BofA
Create E-mail Alert Related Categories
Conference Calls, Hedge Funds, Trader TalkRelated Entities
Citi, Paulson & Co. (PCI), Hedge FundsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!