A 78 percent return. $726 million profit. John Paulson, the hedge fund king, put his money on the collapse of Lehman Brothers. Paulson, in fact, bought Lehman bonds after the collapse of the bank at an average price of 13 cents per dollar.
Now with any plan to get some compensation to creditors, according to Wall Street Journal, Paulson will come out with his pockets full of money.
Now with any plan to get some compensation to creditors, according to Wall Street Journal, Paulson will come out with his pockets full of money.
If, therefore, even the rival plan sponsored by Goldman Sachs was approved, Paulson would earn $350 million. However, at least another hedge fund still could contend the prize for the most profitable bet on Lehman: the unknown Owl Creek Asset Management may make a profit of $71.6 million, a yield of 94% on the initial investment. Money makes money
John Paulson is not related to former Goldman Sachs CEO and U.S. Treasury Secretary Hank Paulson.
John Paulson is not related to former Goldman Sachs CEO and U.S. Treasury Secretary Hank Paulson.
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