Billionaire John Paulson’s Latest Stock Picks
One of the most revered names in the business, billionaire hedge fund manager John Paulson is famous for his lucrative bets against subprime mortgages in the mid-2000s. Paulson earned a $4.9 billion payout in 2010, breaking records in the hedge fund industry. Lately, however, Paulson has had to convince investors that his fund is still on the straight and narrow path—his major funds posted double-digit losses over the past year and change. The fund’s economic outlook in 2011 was rather sunny, costing the fund billions as it took on significant amounts of risk in its investments.