Jim Clark: In 2006, My Goldman Brokers Told Me NOT To Invest In John Paulson And Called Him A "Bit Player"

John Paulson

No wonder Jim Clark (the founder of Netscape) is “irked” by Goldman Sachs.

Clark, a Goldman client, describes the following event to Bloomberg Markets Magazine:

He had met with Paulson & Co. founder John Paulson in August 2006 and been impressed by the manager’s plans to bet against the sub- prime-mortgage market. His Goldman brokers talked him out of investing with Paulson, describing him as a bit player, Clark says.

Paulson generated a 590% return in his flag- ship credit fund in 2007. “When it came out that Paulson had the biggest payday in history, I got angry,” Clark says.

Who wouldn’t be?

Clark also told the magazine:

“They just butter their own bread and charge huge fees, these jerks.”

Don’t feel too bad for Clark – he’s got a supermodel wife, he’s a billionaire, and he seems to be getting his revenge on Goldman.

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