John Paulson continues to turn bad news for the markets into good news for his investors.
Amid what might have been the worst-ever month for the hedge fund industry, Paulson & Co.’s Advantage Plus Fund added another 4.3%, Bloomberg News reports. The fund, which returned better than 150% last year—one of several Paulson hedge funds to post triple-digit returns in 2007, helping its assets under management to balloon to $35 billion—is now up 24.6% on the year.
Another Paulson fund, the Advantage Fund, is also enjoying positive, if more modest, returns amid the market carnage. It rose 1.58% last month and is up 15% on the year.
Paulson has been betting against the banking sector, especially in the U.K.
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