John Paulson’s Advantage Plus fund was down 6.6% in the second quarter and the bad news isn’t letting up yet.
In August, his fund was down 4.26%, says the Financial Times.
But there is good news.
First of all, practically every hedge fund has had a bad year this year – even the big names, like Paulson.
Moore Capital had its worst month ever in May, Duquesne’s returns were so unpalatable to its manager that he (Stanley Druckenmiller) quit, same goes for Paulson’s old partner, Paolo Pelligrini, who also quit recently. The list of hedge fund managers doing well is much shorter than those doing poorly this year.
Also, there’s Paulson’s gold fund, which was up 9% in August.
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