{"id":11942,"date":"2012-06-29T00:02:20","date_gmt":"2012-06-28T22:02:20","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/rpt-insight-john-paulsons-returns-falter-again-investors-fret\/"},"modified":"2012-06-29T00:02:20","modified_gmt":"2012-06-28T22:02:20","slug":"rpt-insight-john-paulsons-returns-falter-again-investors-fret","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/rpt-insight-john-paulsons-returns-falter-again-investors-fret\/","title":{"rendered":"RPT-INSIGHT-John Paulson’s returns falter again; investors fret"},"content":{"rendered":"

\t\t<\/span><\/p>\n

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<\/span><\/p>\n

By Svea Herbst-Bayliss<\/p>\n

<\/span><\/p>\n

BOSTON, June 28<\/span> (Reuters) – Billionaire trader John Paulson
\nhas told his wealthy investors that he has learned from his
\nmistakes of 2011, which produced enormous losses for his closely
\nwatched hedge fund.<\/p>\n

<\/span><\/p>\n

The founder and manager of Paulson Co, who made his
\nfortune and fame by betting against the subprime mortgage
\nmarket, went so far as to tell investors in January that last
\nyear’s big losses, including a 50 percent decline in his popular
\nAdvantage Plus fund, were an “aberration.”<\/p>\n

<\/span><\/p>\n

But as the months tick on, many investors are still waiting
\nto see the dramatic turnaround Paulson has vowed to deliver.<\/p>\n

<\/span><\/p>\n

Halfway through 2012, Advantage Plus is down again, losing
\n10 percent through May. Another big portfolio that bets on gold
\n– once a bright spot for Paulson – was also in the red. In both
\ncases, he blamed losses in gold stocks for the declines.<\/p>\n

<\/span><\/p>\n

This has taken a huge bite out of the firm’s assets, which
\nhave fallen to $22 billion from $38 billion early last year,
\naccording to investors. Redemptions were substantial, but poor
\nperformance accounted for the bulk of the drop, they said.<\/p>\n

<\/span><\/p>\n

While Paulson still has loyal clients, some U.S. public
\npension funds and Wall Street firms that are invested with him
\nhave expressed their growing unease.<\/p>\n

<\/span><\/p>\n

There are few signs of a quick comeback for the 56-year-old
\ntrader, who fumbled in 2012 by missing out on a big
\nfirst-quarter rally in U.S. financial stocks. Last year, a
\nPaulson fund got pounded by being too bullish on banks. He cut
\nsome of those losing positions – most notably by exiting Bank of
\nAmerica Corp in late 2011, just before the rebound.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

By Svea Herbst-Bayliss BOSTON, June 28 (Reuters) – Billionaire trader John Paulson has told his wealthy investors that he has learned from his mistakes of 2011, which produced enormous losses for his closely watched hedge fund. The founder and manager of Paulson Co, who made his fortune and fame by betting against the subprime mortgage […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11942","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11942"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11942\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}