Tags: Paulson | fund | hedge | investing

Paulson Fund Said to Fall 27 Percent in Year After November Loss

Monday, 08 Dec 2014 11:23 AM

John Paulson’s lousy 2014 is getting worse.

The billionaire’s firm posted a 27 percent year-to-date loss in its event-driven hedge fund after a 3.1 percent decline in November, according to two people familiar with the matter. The fund type is one that can’t buy new share issues such as Alibaba Group Holding Ltd., said the people, who asked not to be identified because the information is private. The unrestricted class has lost 17 percent in 2014.

Paulson & Co., which oversees about $19 billion and has hedge funds that can bet on credit markets and corporate events, has lost money in recent months on Fannie Mae and Freddie Mac and health care company mergers. The firm is having its worst year since 2011, when the event fund declined 36 percent because of his bullishness on the economy that drove wrong-way bets in favor of U.S. financial companies.

Paulson is best known for making $15 billion in 2007 betting against the U.S. housing market and is worth $11.2 billion, according to the Bloomberg Billionaires Index.

Armel Leslie, a spokesman for $19 billion New York-based Paulson & Co. with Peppercomm, declined to comment on the returns.

© Copyright 2017 Bloomberg News. All rights reserved.

   
1Like our page
2Share
InvestingAnalysis
John Paulson's lousy 2014 is getting worse. The billionaire's firm posted a 27 percent year-to-date loss in its event-driven hedge fund after a 3.1 percent decline in November, according to two people familiar with the matter.
Paulson, fund, hedge, investing
194
2014-23-08
Monday, 08 Dec 2014 11:23 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved