Posts tagged john paulson
Posts tagged john paulson
- Billionaire hedge-fund manager John Paulson, who last month considered a move to Puerto Rico to lower his tax bill, is starting a fund to help investors reduce the amount they owe to the U.S. government. Kelly Bit reports on Bloomberg Television’s “Money Moves.” (Source: Bloomberg)
John Paulson’s investing philosophy is based on making sector bets according to his interpretation of the macroeconomic picture. The strategy paid off well when he made $3.7 billion in 2007 shorting the subprime mortgage market and another $5 billion in 2010 primarily by betting on gold. Times have been less spectacular since then, with his funds losing 36% in 2011 by being too early in financials and returning 1% in 2012.
In the fourth quarter, Paulson adjusted his sector strategy. He eased more out of financials and consumer cyclical stocks, and made increases to his real estate and energy holdings, according to GuruFocus’ sector weightings.
To read more about his strategy click here:
When cubicles start to feel like prison bars, it’s a problem. Unfortunately, a downside of the sluggish economy is that many of us lucky enough to have a job can feel like we are trapped in it.
Some data suggests people are still acting trapped. In a good economy, more people quit their jobs than are laid off. But that relationship flipped during the recession, which could indicate that people were less willing or able to leave.
Hedge fund billionaire John Paulson mocks financial regulations and the new SEC forms
John Paulson gave a speech to the Young Jewish Professionals network in New York City last night, and despite recent dismal performance, he seemed pretty confident, AR Magazine reports.
So confident, in fact, that he took a moment to cut down regulators and regulations. The amount of information he has to provide the SEC, he said, is a total time waster. And Dodd-Frank?… too complicated.
Fair enough, Mr. Paulson (from AR):
“I couldn’t even read the whole application,” he said to guffaws…”I did review part of the application, about 40 pages [out of 500], and the information we provided doesn’t make any sense to me. How could it possibly make sense to the SEC.”
“It’s a complete waste of time,” he added. “They don’t know what they wanted, they just asked for everything in every possible way.”
Later on he said:
“I don’t believe the Dodd-Frank law is a positive piece of legislation,” he said dryly…”I ordered the bill; there are 2,000 pages. I couldn’t read the table of contents. I don’t know anyone who has read it… I think it was retarded the recovery… it’s complete gobbledygood,” Paulson added.
At least he’s being honest?
Hedge fund biggie John Paulson, the world’s foremost gold bug, added to his precious metal hoard during the second quarter.
Gold now accounts for 44 percent of his entire stock portfolio.
The biggest increase was the additional 4.5 million shares of SPDR Gold Trust, a gold exchange-traded fund.
The firm reported a $3 billion decline in the value of its stock portfolio, to $12 billion for June 30, down from $15 billion on March 31, in the quarterly statements with the Securities and Exchange Commission that were filed yesterday.
SPDR Gold now accounts for $3.39 billion of Paulson’s entire portfolio, or 28 percent. The exchange-traded fund lost about 4 percent during the quarter.
“Eventually the bond markets will say, ‘Oh my God,’ and instead of paying governments to let them lend them the money, like you now see with negative short-rates in various countries around the world, the bond market will say, ‘Hey, you are going to cheat us. We know you are going to cheat us, now we want you to compensate us for that.’ And the bond market or the currency market or a combination of the two will take the printing press away. That’s how it will end. That will be the end of the 40 year experiment with all paper money.”
“What we said back in December was that we thought the most likely start date for the recession would be in Q1, and if not then, by the middle of 2012. I’m here to reaffirm that. In other words, I think we’re in recession already. As I said back there, it’s very rare that you know you’re going into recession when you’re going into recession. It often takes some big hit on the top of the head. In the last recession it took Lehman to wake people up. In the recession before it took 9/11.”