The List: The Crisis’s Big Winners
Thursday, February 5, 2009 : PermalinkThe New York-based hedge fund manager reportedly made a record $3.7 billion in 2007. In 2008, his $7 billion Advantage Plus fund returned an incredible 37.6 percent. Another smaller fund he manages returned nearly 590 percent last year, thought to be the largest one-year hedge fund return in history.
How he did it: In early 2008, Paulson began short-selling shares of financial stocks, including the doomed Fannie Mae and Freddie Mac. He also bet big on Anheuser-Busch’s sale to Belgium’s InBev at a time when the deal looked to be falling apart.
Tags: anheuser busch, belgium, fannie mae, fannie mae and freddie mac, financial stocks, freddie-mac, hedge-fund-manager, inbev, paulson, selling-shares
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