John Paulson is one of a number of hedge fund managers featured in Sebastian Mallaby’s book More Money than God, largely because he earned almost $4 billion for himself and billions more for his clients. Credit default swaps, the bane of AIG, Lehman Brothers, and Bear Stearns, were his big ticket to even bigger riches.
Well, that was then. Now, not so much. In 2011, according to Bloomberg Businessweek, Paulson’s Advantage Plus Fund was down -52.5%. It’s down another -6.3% through May of this year.
He’s still has more money than most everybody else–but G_d.