Absent optimism by US Hedge fund manager John Paulson about the aptitude of the US to rebound back from recession is costing his wealthy investor dearly, it emerged today.
In the middle of fears on Wall Street about the irresolute recovery in the world's biggest economy, Paulson & Co saw its funds undergo heavy losses last month.
The Paulson was one of the little hedge fund managers to anticipate the depth and duration of the crash in American real estate markets. In 2007, when Wall Street was gambling heavily on the sustained strength of house prices, his Credit Opportunities Fund correctly anticipated the satisfied of the sub-prime mortgage bubble.
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