Money and Finance
Notes from the John Paulson Call - by Joshua Brown
Using my advanced ninja skills I got myself onto the Bank of America Wealth Management-hosted conference call starring John Paulson of Paulson & Co this evening.
The notoriously press- and attention-shy Paulson agreed to be on the call a week after Citigroup pulled $410 million from the hedge fund manager and so at least some part of this was about damage control. Paulson was quick to point out that Citi's financial advisors had not pulled their support for him directly, rather it was Citi's feeder fund. He also expressed gratitude to the BAML advisors for their longstanding relationship with Paulson & Co.
I have a few observations I'd like to make, in no particular order...
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Paulson Forgoes Prognostication As Greatest Trade Sequel Flops
John Paulson, founder of Paulson & Co., one of the world’s largest hedge funds, has close-cut black hair, dark eyes and a soft voice. There’s a fuss when he arrives, befitting a man who made one of the biggest fortunes in Wall Street history,...
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Dalio Takes Hedge Crown From Soros
Ray Dalio has overtaken George Soros as the world’s most successful hedge fund manager after his Bridgewater Pure Alpha fund made $13.8bn for investors last year. The profits made by the Connecticut-based Pure Alpha – already the world’s biggest...
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Street Of Walls Q3 Report On Hedge Fund Positions
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How Paulson Gave Hedge Funds Advance Word
Treasury Secretary Henry Paulson stepped off the elevator into the Third Avenue offices of hedge fund Eton Park Capital Management LP in Manhattan. It was July 21, 2008, and market fears were mounting. Four months earlier, Bear Stearns Cos. had sold itself...
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The Confidence Game - By James Grant
In disclosing plans to buy a quarter-trillion dollars of bank stock in the name of the American taxpayer, Treasury Secretary Hank Paulson harped on confidence. "Today, there is a lack of confidence in our financial system, a lack of confidence that must...
Money and Finance