John Paulson was up 12.5% last month in his biggest fund, Paulson Advantage.
A total of three of his funds (including his gold fund) hit double-digit performance gains, says the Wall Street Journal.
And last month’s good news isn’t exclusive to Paulson, who months ago was close to having his reputation torn to shreds.
Josh Fink’s (Larry Fink’s son) fund, Enso, was up 14.5% this month, 25% YTD.
Dan Loeb’s Third Point is up 3% in September, 20% YTD.
Performance has been low for hedge fund this year, so this September rally is good news for the industry, but consider the scary speech Paulson just gave at the University Club.
He told the audience gold could be going to $4,000 and they should buy as many houses as possible.
Good news for the industry, bad news for everyone else if he’s right.