Monday, July 13, 2015
Paulson had shares in Greek company - Piraeus Bank
A number of hedge funds and asset managers have Greek holdings, according to latest data from Thomson Reuters. U.S. billionaire John Paulson’s firm Paulson & Co. Inc. held just over 133 million shares in Piraeus Bank, while Lyxor Asset Management held 22.6 million shares in Piraeus and 19.2 million in National Bank of Greece.
Wednesday, July 8, 2015
John Paulson on Long term investing and compounding
Investors that do the best, and have done the best, are those that stay and compound at above-average rates over the long term.
Monday, July 6, 2015
Lake Las Vegas thriving due to John Paulson
Lake Las Vegas, the water-filled, 3,592-acre development in northeastern Henderson, hit the bottom of the Great Recession hard, perhaps more spectacularly than any other Southern Nevada development.
Its swift, downward cascade was especially rough because of its tony beginnings — it holds some of the ritziest homes in the region stretching back in the 1990s. Marquee residents such as Celine Dion have lived there. However, once its keystone casino, MonteLago, shuttered and an outlandishly watered golf course failed, it became proverbially “out of sight, out of mind” for many homebuyers in Las Vegas and beyond.
The economic winds over Lake Las Vegas, a man-made reservoir, have been shifting recently, though … even favorably.
“We are certainly on the upper side of the curve,” said Sharla Scharpnick of Windermere Prestige Properties at Lake Las Vegas.
Scharpnick credits much of Lake Las Vegas’ resurgence as a viable real estate development to New York hedge fund manager John Paulson and his management arm, Raintree Investment Corp., which purchased a large portion of the resortlike development in 2012. They have done just outstanding work in the past several years,” she said.
Scharpnick points out a central development in the resurrection of Lake Las Vegas: golf. “Key to that was bringing back Reflection Bay golf course,” she said. Scharpnick applauds the club for also embracing activities beyond the links, too. “They’ve now expanded far outside of just golf,” she said. “They have a beach, they gave all kind of waters ports and rentals for boats. They’ve started up happy hours. They’re really working toward making it more of a community center.”
Its swift, downward cascade was especially rough because of its tony beginnings — it holds some of the ritziest homes in the region stretching back in the 1990s. Marquee residents such as Celine Dion have lived there. However, once its keystone casino, MonteLago, shuttered and an outlandishly watered golf course failed, it became proverbially “out of sight, out of mind” for many homebuyers in Las Vegas and beyond.
The economic winds over Lake Las Vegas, a man-made reservoir, have been shifting recently, though … even favorably.
“We are certainly on the upper side of the curve,” said Sharla Scharpnick of Windermere Prestige Properties at Lake Las Vegas.
Scharpnick credits much of Lake Las Vegas’ resurgence as a viable real estate development to New York hedge fund manager John Paulson and his management arm, Raintree Investment Corp., which purchased a large portion of the resortlike development in 2012. They have done just outstanding work in the past several years,” she said.
Scharpnick points out a central development in the resurrection of Lake Las Vegas: golf. “Key to that was bringing back Reflection Bay golf course,” she said. Scharpnick applauds the club for also embracing activities beyond the links, too. “They’ve now expanded far outside of just golf,” she said. “They have a beach, they gave all kind of waters ports and rentals for boats. They’ve started up happy hours. They’re really working toward making it more of a community center.”
Monday, June 29, 2015
Greek crisis could affect John Paulson
For investors around the world looking at Greece, there are worries right now.
Those worries are more acute for the hedge fund investors - including Dave Einhorn and John Paulson - who have collectively poured more than euro 10 billion into Greek government bonds, bank stocks and a slew of other investments.
This weekend, Nicholas L Papapolitis, a corporate lawyer here, was working around the clock comforting and cajoling his frantic hedge fund clients.
"People are freaking out," said the 32-year-old Papapolitis, his eyes red and his voice hoarse. "They have made some really big bets on Greece.
But there is no getting around the truth of the matter, he said. Without a deal with its European creditors, the country will default and Greek stocks and bonds will tank. Panicky depositors spent the weekend pulling an estimated euro 1 billion from the banking system, stashing the cash in their houses or exchanging them for bulging bags of gold coins.
A number of hedge funds have also made big bets on Greek banks, despite their thin levels of capital and non-performing loans of around 50 per cent of assets. They include Einhorn at Greenlight Capital and Paulson, both of whom have invested and lost considerable sums in Piraeus Bank. Fairfax Financial Holdings and the distressed investor Wilbur Ross own a large stake in Eurobank, one Greece's four main banks.
Those worries are more acute for the hedge fund investors - including Dave Einhorn and John Paulson - who have collectively poured more than euro 10 billion into Greek government bonds, bank stocks and a slew of other investments.
This weekend, Nicholas L Papapolitis, a corporate lawyer here, was working around the clock comforting and cajoling his frantic hedge fund clients.
"People are freaking out," said the 32-year-old Papapolitis, his eyes red and his voice hoarse. "They have made some really big bets on Greece.
But there is no getting around the truth of the matter, he said. Without a deal with its European creditors, the country will default and Greek stocks and bonds will tank. Panicky depositors spent the weekend pulling an estimated euro 1 billion from the banking system, stashing the cash in their houses or exchanging them for bulging bags of gold coins.
A number of hedge funds have also made big bets on Greek banks, despite their thin levels of capital and non-performing loans of around 50 per cent of assets. They include Einhorn at Greenlight Capital and Paulson, both of whom have invested and lost considerable sums in Piraeus Bank. Fairfax Financial Holdings and the distressed investor Wilbur Ross own a large stake in Eurobank, one Greece's four main banks.
Thursday, December 18, 2014
Caesars casino drop affecting Paulson
Caesars Entertainment Corp dipped almost 11 percent as lenders exited talks over restructuring its largest unit. The casino operator has declined -38.16 percent this year, weighing down the investment portfolios of Leon Cooperman, John Paulson and George Soros.
Monday, December 1, 2014
Paulson Recovery Fund to be renamed Paulson Special Situations Fund
Paulson Recovery Fund will be renamed Paulson Special Situations Fund on Jan. 1, 2015, after concluding that the five-year-old U.S. recovery has matured.
Amendments to the fund’s mandate will render it more similar to Paulson’s event-driven Advantage funds, which wager on the outcomes of takeovers, spinoffs and corporate bankruptcies. Existing investors have been offered the chance to redeem their shares in light of the changes.
Monday, November 17, 2014
Paul sticks with GLD and Gold miners
John Paulson’s hedge fund, Paulson & Co., maintained its stake in the SPDR Gold Shares during the third quarter even as gold prices have declined recently. Paulson & Co., the largest GLD shareholder, made no adjustments to its GLD position for a fifth consecutive quarter.
At the end of the third quarter, Paulson owned over 10.2 million shares of GLD. GLD is Paulson’s second-largest equity position behind Irish pharmaceuticals firm Shire.
In addition to GLD, during Q3 Paulson also maintained stakes in gold miners, including Randgold Resources, Agnico-Eagle Mines, Gold Fields, Sibanye Gold and IAMGOLD.
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