Globe and Mail – As the managing partner of one of North America’s larger hedge funds, John Paulson typically shuns the spotlight, preferring to quietly exploit arbitrage opportunities to keep aheadof the investing pack.
When the choice is a public fight or a private beating, Mr. Paulson is prepared to engage in some high-profile corporate pugilism, keeping in mind a favourite quote from Sir Winston Churchill: “Never give up, never give up, never give up.”
His company, Paulson & Co. Inc., is currently battling the board of directors and management at Sault Ste. Marie’s Algoma Steel Inc., where it is the largest shareholder with a 19-per-cent stake.
Sixteen months after buying into Algoma, with the hope of profiting from a takeover bid for the steel company, Mr. Paulson is frustrated by the lack of a payoff and openly derisive of the current management and board of directors for failing to build shareholder value.
