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On a call with investors discussing second quarter results, hedge fund manager John Paulson gave the Euro a 50 per cent chance of survival.A source who was on the private call told Bloomberg (ht Josh Brown) that Paulson believes a breakup could happen within three months, or as far out as two years.
In the call, Paulson revealed that he has reduced risk in several funds. Further, employee capital now represents 60 per cent of the firm’s funds, growing from 53 per cent earlier this year. That might reflect increased client redemptions after significant losses in his Advantage Fund, one of the firm’s biggest.
Read the full article at Bloomberg
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