Surprise! It's John Paulson. Sadly, this is actually not a surprise at all. Paulson simply has too much market exposure in some of his funds and as the market has tumbled downwards, he's gotten hit big time, according to BusinessInsider.
First it was financials.
Unbelievably, today brings yet another hit to John Paulson's portfolio: HP, which has been getting crushed all day .
The WSJ estimates that he could be down around $500 million. The hedge fund manager is down around 34% YTD in one of his funds and the latest blow, courtesy of HP, which is down 20% today, means he could lose more by the next time he reports returns to investors.
Read more: http://www.businessinsider.com/john-paulson-just-lost-500-million-on-hp-2011-8#ixzz1VW0KgYr2
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