On the first Wednesday in May, a rather large tent pops up behind the Vanderbilt Gate on Fifth Avenue between 104th and 105th Streets with the sole purpose of shielding the over-the-top headgear of 1,300 ladies who lunch, a handful of men and one Martha Stewart from the elements as they duke it out for millinery supremacy Read More
Last November, the New York Times reported that the 92nd Street Y had entered into an unusual relationship with certain hedge funds managed by the nonprofit’s board members. The Y could invest with money managers such as John Paulson, who sent his children to the Y’s nursery school, at no fee, and with a promise from the billionaire hedge fund manager to guarantee any loss.
You know John Paulson: He’s the hedge fund manager who scored biggest betting against mortgage-backed bonds ahead of the subprime crisis, and while it hasn’t been all champagne and roses since, that’s hardly stopped the guy from loosening the purse strings. In June, he paid $49 million for a 90-acre Aspen, Colo. ranch previously owned by Saudi Prince Bandar bin Sultan.
Today, the hedge fund billionaire announced a $100 million gift to the Central Park Conservancy, the largest donation made to the organization charged with the physical management of the park.
“The Conservancy is responsible for transforming and sustaining Central Park as the celebration of culture, nature and democracy that it is today,” Mr. Paulson said in a press release issued by the Conservancy. “It is my hope that today’s contribution will help it endure and flourish and inspire others to join me in ensuring that the Park continues to receive the support it needs to be this city’s greatest asset.”
John Paulson is a more aggressive risk-taker than other hedge fund managers, a Bank of America executive told clients on a conference call yesterday, Bloomberg reports. Mr. Paulson answered questions from BofA’s wealth management clients after Citigroup’s private banking unit redeemed $410 million from Paulson funds last week.
Ray Dalio isn’t making friends in Stamford, Read More
Nasdaq may be planning to sweeten its compensation offer to entities that suffered losses due to technical problems at the exchange on the day of Facebook’s initial public offering, The New York Post reports, which would fit the pattern: Nasdaq makes an offer, the market makers—Citigroup, UBS, Citadel and Knight—talk tough, Nasdaq ups the Read More
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 capital 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 likes his Read More
Stocks enjoyed a highly successful September, but returns for the S&P 500 couldn’t match those of John Paulson’s largest investment fund, which raked in a 12.5 percent gain for the month, according to The Wall Street Journal.
Paulson’s September comeback is something of a vindication for a bullish stance the hedge fund manager took Read More
Amid a broader outpouring of funds from the hedge fund industry this summer, famous mortgage-market short-seller John Paulson has racked up additional losses in one of his most difficult years on record, the Financial Times reports.
Paulson’s $9 billion Advantage Plus fund lost 4.3 percent in August, the FT says, “according to an Read More
Earlier this month, a story splashed across the front page of the Post warned that representatives from more than a dozen New York City hedge funds had “crossed the border” to meet with Connecticut Governor Jodi Rell. Over fried calamari, the governor reportedly pitched the executives on moving their businesses to her state: Read More