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’Fact or fiction, Sino-Forest edition
Only one of these exhibits is real:
Exhibit A:
BriefingWire.com, 6/21/2011 – Washington, D.C., June 21, 2011 — The Securities and Exchange Commission has charged Carson Block and Muddy Waters LLC in a stock manipulation ring that allegedly published false information,
Paulson, lumbered with Sino-Forest
FT AlphaTilt, the swashbuckling blogging portmanteau, noticed on June 2 that Paulson & Co was listed as owning by proxy 14.13 per cent of the outstanding shares in Sino-Forest Corporation.
The timber firm’s troubles were more bad news for the world’s third-largest hedge fund,
Japan’s hedgie trap
Some more insights into the (financial) traps and machinations of Japan’s post-March 11 markets and their impact on investors — this time from the FT’s Sam Jones, formerly of the FT Alphaville’s parish.
John Paulson’s real 2010 success: Gold
Paulson & Co may well have made more than $1bn from its long position in Citigroup, but the firm’s really big bet — the one that has seen the firm’s assets swell by around $8.4bn over the past 12 months (before,
Dear Paulson & Co investor… happy September
Those Paulson & Co September performance numbers in full:
Advantage Plus: +12.41%
Credit Opportunities: +3.94%
Recovery: +8.47%
Gold: +5.67
Related links:
Paulson and the bulls bounce back – WSJ
Paulson &
The biggest hedge funds in the US…
Out from AR magazine just moments ago is their annual ranking of the biggest hedge fund managers in the US. Unsurprisingly, Bridgewater is still number one. Surprisingly, it has increased its lead by a significant margin.
Dear Paulson investor… et al
Boing. This month, through to the 10th:
Paulson Advantage +5.03%
Paulson Advantage Plus +7.5%
Just in… some more ambulance chasing August equity market victims:
Lansdowne UK Equities – $7.5bn - (3.03%) ytd:
Paolo Pellegrini’s painful July
As Absolute Return reported on Friday, Paolo Pellegrini – the Stan Druckenmiller to John Paulson’s Soros – is winding down his hedge fund, PSQR Capital.
PSQR has only been going since 2008, when Pellegrini (who masterminded Paulson &
Dear Paulson & Co investor…
Totemic hedge fund manager John Paulson may be dialing down his long-US positions, though irritatingly it might just have been the wrong time to do so.
After a brutal May and June for the Paulson funds,
[Abacus] The experience of Laura Schwartz
Laura Schwartz is a name that appears in Goldman Sachs’ defence documents — the bank’s counter-arguments against the SEC’s allegations of civil fraud in its Abacus CDO — and the pitch-book for the deal.
[Abacus] The Goldman defence documents
A big hat tip to the FT’s Francesco Guerrera here.
Presenting Goldman Sachs’ detailed defence of Abacus 2007-AC1 CDO — Part I and Part II
—-
There’s so much here worthy of discussion,
[Abacus] ‘Goldman Sachs is disappointed…’
There’s got to be a sick squid joke in here somewhere.
Goldman Sachs, late on Friday, issued a fresh statement on the SEC/Paulson CDO pumping affair.
Highlights:
- Goldman Sachs lost $90m on this transaction
- IKB and ACA Capital Management “were among the most sophisticated mortgage investors in the world.”
[Abacus] Introducing Fabrice “fabulous Fab” Tourre
We all want to know much more about the sort of guy who can write this to a colleague:
More and more leverage in the system, The whole building is about to collapse anytime now…Only potential survivor,
[Abacus] Paulson: ‘It’s our money now’
Well, in so many words…
If ABACUS 2007-AC1 is proved to be a fraud on Germany’s IKB and Britain’s RBS (née ABN Amro), then John Paulson’s hedge fund will be braced for compensatory claims.
Here’s the Paulson &
[Abacus] Formerly The Greatest Trade Ever
The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History, Gregory Zuckerman
Coming next for hedge funds: the Greek inquisition
Life can be so unfair for hedge funds. It seems you can’t even make a buck kicking a faltering eurozone economy when it’s down, as the FT reported on Wednesday. But you can short the whole eurozone.
Amid growing fears of a regulatory backlash against hedge funds’ trading positions on specific sovereign debt of Greece and other weak eurozone economies,
The benefits of naked CDS
I think that derivative products… the CDS on sovereign debt have to be at least very, very regulated, rigorously regulated, limited or banned, this is a personal position on financial instruments
- Christine Lagarde,
<<"Tres hedge funds con más de 500.000 millones bajo gestión son los responsables del ataque a España">>
Okay, we don’t think this needs to be put through the Google Translator.
Reportedly, Moore Capital, Brevan Howard and Paulson & C0 are behind the “murky maneuvers” that have seen Spanish CDS and bond yields blow out.
Paulson to launch gold fund
Billionaire hedge fund manager John Paulson is launching a new gold fund from Jan 1 that will include $250m of his own personal investment, reports the WSJ. The fund will focus on shares of gold miners and other bullion-related investments,
Hedge funds back Kraft
The growing share of Cadbury held by hedge funds betting that Kraft will raise its $16.2bn (£9.8bn) offer for the UK confectioner is increasing the likelihood that Kraft’s hostile bid will succeed, say brokers.
Hedge funds bite into Cadbury
Paulson & Co, the New York hedge fund run by John Paulson, has disclosed a 2.08% stake in Cadbury following Kraft’s £9.8bn ($16.4bn) hostile bid this week, signalling growing hedge fund interest in the UK confectionery group following Kraft’s hostile bid.
John Paulson’s ‘success-breeds-success’ strategy
Once again, John Paulson is suggesting by his actions that he knows something we don’t. The zillionaire hedge fund manager – who made billions betting against subprime mortgages and shorting bank stocks over the past two years – has gone big on Bank of America.
Paulson & Co go for gold
Paulson & Co spent $1.28bn buying Anglo American’s stake in gold miner AngloGold Ashanti on Tuesday as the New York hedge fund moved from betting against banks to betting against governments. Paulson,
How to make (a lot of) money from UK banks
It’s one of those headlines guaranteed to make hedgies who’ve had a bad – or even just mediocre – year weep into their balance sheet: “Paulson May Make $428 Million Shorting Lloyds, HBOS”.
As Bloomberg reports on Wednesday:
Shorting windfall for Paulson
Paulson & Co, the hedge-fund firm that made $3bn-plus betting the US housing market would collapse, may have made £311m since September by short selling Lloyds Banking Group and HBOS, reports Bloomberg.
Paulson & Co reaps £270m shorting RBS
Paulson & Co, one of the world’s biggest hedge funds, has made a profit of at least £270m betting on a fall in the share price of Royal Bank of Scotland over the past four months. The New York-based fund,
NY hedge fund targets UK banks
John Paulson, the US fund manager who made billions predicting the subprime implosion, emerged Tuesday as the biggest short seller of British banks. Paulson, founder of Paulson & Co, has bet against four of the five biggest British banks,
Paulson & Co signals strategy shift
Paulson & Co, last year’s most successful hedge fund, has told investment bankers it is ready to consider backing rescue recapitalisations of troubled financial institutions – signalling a switch from betting against the sector to buying into it.