John Paulson must be breathing a small sigh of relief. The recent bounce in the prices of bank stocks and gold has, at least for the time being, stopped the bleeding. The patient, alas, is still in critical condition.
It's been a rough year for the hedge fund legend. According to the Financial Times , Mr. Paulson's flagship Advantage Plus fund was down 47% for the year. The unleveraged version of the fund—ostensibly more conservative—was down by "only" a third.
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