Why is John Paulson Not Smiling?
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John Paulson is having a 6005 kind of year (that's what we imagine 2009 would be like upside down. The five isn't exactly a 2).
Paulson may be down 31 percent for the year.
At the beginning of August, Paulson's Advantage fund was down about 15 percent, sources from Dealbook said Wednesday.
Just over a week into the month, Paulson's paper loss may have edged to 21 percent. The 31 percent decline is for his leveraged Advantage Plus fund, which started August 20 percent in the hole.
Those numbers are only through last Friday, meaning this week's market action is not yet in the figures.
Paulson, in a letter to investors last Friday, said clients only requested to pull out 2 percent of funds.
But, as we know, its how you finish that really matters.
Paulson may be down 31 percent for the year.
At the beginning of August, Paulson's Advantage fund was down about 15 percent, sources from Dealbook said Wednesday.
Just over a week into the month, Paulson's paper loss may have edged to 21 percent. The 31 percent decline is for his leveraged Advantage Plus fund, which started August 20 percent in the hole.
Those numbers are only through last Friday, meaning this week's market action is not yet in the figures.
Paulson, in a letter to investors last Friday, said clients only requested to pull out 2 percent of funds.
But, as we know, its how you finish that really matters.
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