John Paulson buying Citigroup shares: report
Friday, August 28, 2009 : PermalinkReuters – Hedge fund manager John Paulson, who bet against financial companies after foreseeing the credit crisis, has been buying Citigroup Inc <C.N> shares over the past few weeks, the New York Post reported, citing sources.
Paulson bought around a 2 percent stake in Citigroup, a source told the paper. An investor with a 5 percent or higher stake in a company would have to make a disclosure with the U.S. Securities and Exchange Commission.
Sources told the paper Paulson believes Citigroup’s assets are undervalued. A spokesman for Paulson declined to comment to the paper on the hedge-fund manager’s investment activities.
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credit-crisis, hedge-fund-manager, investment activities, investor, john paulson, spokesman