Billionaire hedge fund manager John Paulson, perpetrator of the Greatest Trade Ever, has sold off sizable chunks of his positions in Bank of America, Citigroup and Wells Fargo, while dropping his position in Goldman Sachs altogether.
The move underscores a third-quarter that was somewhat humbling for the big banks. A foreclosure scandal, ramped-up Read More
David Einhorn, the Greenlight Capital manager who can puncture a stock’s price with a mere flap of his gums, has joined Sarah Palin, China, Germany and many others in criticizing the Federal Reserve’s recently announced $600 billion bout of quantitative easing.
From The New York Times:
“It is Read More
Phil Falcone has a theory about Goldman Sachs.
There was a striking Bloomberg item by Katherine Burton today about the billionaire hedge fund manager, who calls the former Guccione Mansion home and has the most splendiferous wife in the business. She reported that Goldman is pulling its entire Read More
In one of the more striking cases of earnings-call badassery from the third-quarter earnings season, FrontPoint hedge fund manager and The Big Short honoree Steve Eisman today took Genworth Financial CEO Mike Frazier out to the verbal woodshed (call transcript provided by Dealbreaker):
Frankly, the only accomplishment that this management team can truly Read More
Gargantuan hedge fund The Man Group is looking to trim its payroll by about 200 people, The Wall Street Journal reports. The main mechanism for the cuts will be layoffs, although attrition will also play a part, a source told The Journal.
The Man Group bought GLG Partners earlier this month, following a Read More
John Paulson, the billion-dollar badass who shorted the mortgage market before its utter implosion (but whose fund was also implicated in the since-settled SEC investigation of Goldman Sachs) is ratcheting down his expectations for Bank of America.
Forbes‘ Teri Buhl reports (via John Carney):
John Paulson told investors today he still Read More