CityWire.co.uk- Punch-drunk investors have – perhaps a little predictably – interpreted the news as Paulson preparing to call the bottom of the market. And it is certainly an interesting development from the man widely considered to be the ‘greatest’ financial speculator since George Soros.

Some words of caution, though. All of today’s reports explicitly stress that the launch of the fund is not yet a forgone conclusion – a deliberate message that almost certainly emanates from the great man himself.

Like many others before him, Paulson appears to be using the media to test investor appetite for such a fund (so much cheaper and quicker than marketing or one-to-one meetings).

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