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How John Paulson made a shit load of money in 2008

February 2, 2009 Economy, Equity Trading No Comments

Paulson Advantage Plus, the largest of his funds, returned 37.6% net of fees on $7B in assets. For the coming year, he says…

We remain bearish on the outlook for the U.S. economy and believe the recession will extend into late 2009 and likely into 2010. The sharp contraction in the global economy, the instability of the global financial system and the ongoing credit contraction are unlikely to be resolved in the first half of 2009. While the U.S. stimulus package will likely cushion the decline we don’t think it can halt the downturn and will likely have longer term negative consequences..

For all of the itty-bitty details, this is a must-read.

Source:  John Paulson’s Funds Shine in the Gloom,  NYTimes Dealbook

Related Article: The Man Who Made Too Much, Gary Weiss for Portfolio Magazine, Feb 2009

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