The FT is reporting that for May, his flagship Advantage Fund, fell 6%. That compares to an average decline of just 1.39% in the month. For the year he's now down 7.6%.
And that's before June -- which is already off to a rough start. On Friday we mentioned how Paulson probably lost hundreds of millions in shares of Sino-Forest, the latest case of a Chinese stock getting killed after a short-seller raises questions about accounting.
Well on Friday, says WSJ, Paulson told investors that this stock did in fact represent 2% of his Advantage Fund, and at this point represents a loss to the fund of around $323 million.
Meanwhile, another one of his big past winners -- his gold fund -- fell 6.4% in May...
…
Don’t stop now. Find Out more at:
http://www.businessinsider.com/john-paulson-loses-6--in-may-2011-6
No comments:
Post a Comment