John Paulson stepped away from his desk to greet a group of clients in his Manhattan offices as stocks tumbled last month. Donning a dark sports jacket, the founder of giant hedge-fund firm Paulson & Co. apologized for the unusual volatility of his funds and vowed to recover recent losses. He acknowledged mistakes and said he was making adjustments.
But there's one thing Mr. Paulson said hadn't changed—his bullishness. "The problems in the U.S. can be solved," he said, according to someone at the meeting. The U.S. isn't Europe, he told them. The U.S. economy and stock market will improve ...
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