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Alternative Market Briefing

John Paulson suffered losses in September

Friday, October 10, 2014

Komfie Manalo, Opalesque Asia:

The volatile financial markets hit John Paulson in September as his two main funds fell 11% and 8% during the month, reports said.

Paulson’s $22bn Advantage fund registered an 8% decline last month, bringing its total losses to date at around 13%. The Paulson Advantage fund invests in corporate transition situations, including spinoffs and bankruptcies. The Advantage Plus fund, a leverage version of the Advantage fund, recorded a high double-digit losses of 11% in September (14% YTD).

Another Paulson fund, the Credit Opportunities suffered a 3.7% loss during the month as the fund was hurt by defaulted securities, convertible bonds and bank debt. The Recovery fund was up 5.9% in September and 6% in the first three quarters of the year.

Paulson established his name in 2007 shorting the U.S. housing market that netted him an estimated $15bn. His net worth is currently placed at around $13.8bn.

In late September, Paulson privately suggested on at least two occasions that Family Dollar Stores Inc. sell itself, before his hedge-fund firm told regulators that its investment in the discount retailer was passive.

Paulson advocated for a sale in a meeting in October with Family Dollar Chairman and Chief Executive Officer Ho......................

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