New York (HedgeCo.Net) – At a time when most hedge funds are posting their worst year to date, John Paulson somehow manages to stay afloat. The founder of Paulson & Co. has informed investors that his funds are in fact up in November and furthermore, posting double-digit gains.
Paulson’s Advantage Plus Fund, which manages around $10 billion, climbed 3.19 percent in November, with a 33.5 percent gain for the year. His $5 billion Advantage Fund followed suit, posting gains of just over 2 percent in November and 21 percent for the year.
John Paulson bet infamously against the housing market, predicting the subprime fallout that ensued. His insight allowed him to rake in $3.5 billion virtually overnight, giving him the most lucrative Wall Street payday to date. It also landed him on the Forbres Richest List at number 78, with a net worth estimated at $4.5 billion.
Paulson & Co. currently manages approximately $35 billion through several hedge funds.
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