TheStreet – Paulson & Co. founder John Paulson has endured a tumultuous year as his hedge fund has fallen more than 30%. The billionaire investor is seeking to rebound with new investments in companies including News Corp. and Mosaic.
After earning a record amount — $5 billion — for a hedge-fund manager last year with the help of gold and bank stocks, Paulson is now slashing holdings in many of those investments as his fund’s performance has badly lagged behind the broader market. Paulson’s flagship Advantage Plus Fund has plummeted 31% this year, according to several media reports that cite investors in the fund.
