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This link also works: https://outline.com/JJt8uT “Cryptocurrencies, regardless of where they’re trading today, will eventually prove to be worthless. Once the exuberance wears off, or liquidity dries up, they will go to zero. I wouldn’t recommend anyone invest in cryptocurrencies,” John Paulson, president and portfolio manager of U.S. investment firm Paulson & Co., told Bloomberg Wealth in an interview that published on Monday. Paulson said it wasn’t even worth shorting bitcoin given its extreme volatility, and instead suggested investors sock money into bullion, due to “a very limited amount of investible gold.” Paulson sees investors pulling money out of fixed income...

For investors around the world looking at Greece, there was but one question Sunday: What is going to happen when the markets open? On Sunday night, the prime minister, Alexis Tsipras, said in a televised address that Greece’s banks and stock market would be closed on Monday, as Athens tries to avert a financial collapse. But the question of what happens when the markets do open is particularly acute for the hedge fund investors — including luminaries like David Einhorn and John Paulson — who have collectively poured more than 10 billion euros, or $11 billion, into Greek government bonds,...

John Paulson and George Soros Score Big Selling OneWest Bank For $3.4 Billion Comment Now Follow Comments A gang made up of some of Wall Street’s biggest names and formed by former Goldman Sachs partner Steve Mnuchin is set to realize a big score from the sale of OneWest Bank to CIT Group CIT +11.19% for $3.4 billion. Hedge fund billionaires John Paulson and George Soros were part of the group that together with buyout baron Christopher Flowers and billionaire Michael Dell bought the assets in 2009 of the former IndyMac, one of the nation’s largest bank failures ever, from...

GOP presidential candidate Gov. Scott Walker is getting a bump from donors. Unintimidated PAC – an independent organization that is supporting Walker’s candidacy — announced in a press release that it raised more than 20-million dollars from just 300 donors, “securing its place among the top-tier outside groups supporting a presidential candidate.” According to the press release, Unintimidated PAC’s fundraising comes in third place out of all Super PACs supporting GOP candidates this quarter. “The $20 million haul is even more impressive considering that the dollars were raised before Scott Walker officially entered the race for President.” “Governor Walker’s record...

A handful of billionaires are quietly dumping their American stocks . . . and fast. Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods. Buffett’s holding company, Berkshire Hathaway, has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced its overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold...

Billionaire hedge fund manager John Paulson, who told investors as recently as last month that they should own gold, cut his holdings in the metal by more than half as prices plunged into a bear market. Paulson & Co., the largest investor in the SPDR Gold Trust, the biggest exchange-traded product for the metal, pared its stake to 10.2 million shares in the three months ended June 30 from 21.8 million at the end of the first quarter, according to a government filing Wednesday. The New York-based firm, which manages $18 billion, cut its ownership for the first time since...

Unnamed sources speaking with Bloomberg News say the hedge-fund manager is considering relocating to Puerto Rico for tax reasons, to benefit from a new law that the wire says lets new residents pay no local or U.S. federal taxes on capital gains. The story goes on to relate, via those unnamed sources, that Paulson & Co.would remain in New York:

The Occupy Wall Street protesters are planning to get in the face of some of New York's richest tycoons on Tuesday. A "Millionaires March" will visit the homes - or, more realistically, the gleaming marble lobbies - of five of the city's wealthiest residents. On the target list: NewsCorp CEO Rupert Murdoch, JP Morgan Chase CEO Jamie Dimon, conservative billionaire David Koch, financier Howard Milstein and hedge fund mogul John Paulson.

John Paulson Just Had A Terrible Day As Sino Forest Falls 60% By Scott Rubin Benzinga Staff Writer June 02, 2011 5:52 PM ZeroHedge broke the news this afternoon that John Paulson's mammoth hedge fund Paulson & Co. is the largest shareholder in Sino Forest (TRE.TO), which lost more than 20% on Thursday after Muddy Waters Research released a report on the company accusing it of fraud. The stock was halted on the Toronto stock exchange down 20%, but Sino Forest equity that trades in the U.S. on the pink sheets closed more than 60% lower. Muddy Waters has gained...

John Paulson told a UK news show on Tuesday that gold is going to $4,000, reports WSJ. Despite some recent gyrations in the precious metals arena -- more so on the silver side of things -- the prominent investor remains super-bullish for the next 3-5 years. On the other hand, according to reporters Gregory Zuckman and Caroline Cui, Soros has been a seller of gold and silver lately. What what's interesting is why: Soros no longer sees a big threat of deflation. Huh? Yes, while the average person may still think of gold as a bet to counter inflation, the...

Paulson, who is considered one of the most successful hedge fund managers worldwide, has made statements that the double digit inflation will “kill” the bond markets by enhancing the prestige of the gold markets. He expressed the estimation that the price of gold can easily pass the $2,400 per ounce limit reaching up to $4,000 an ounce within 2012. The billionaire hedge fund manager was speaking at an event in the University Club of New York. At the same event, Paulson said that currently more than 80% of the placements are associated with gold, either in the form of ETFs...

It didn't take long for the non-scandal that allegedly threatened the reputation of Goldman Sachs to die of its own contradictions. As a public company whose sole constituent is its shareholders, evidence quickly revealed that Goldman was serving its owners well through investment vehicles meant to match the needs of both its bullish and bearish customers. Unfortunately, the non-controversy surrounding Goldman dredged up other, more dangerous notions about market speculation itself. To believe the naïve musings of commentators on the left and right, the oft-mentioned trades engineered by Goldman Sachs, along with others of the "speculative" variety, don't serve any...

I turned 43 years old on Tuesday, but after listening to the Goldman Sachs hearing in Washington I felt like I was born yesterday. That's essentially how the Goldman witnesses treated their viewing audience while defending their dubious behavior: You're too dumb to understand the complexity of our business and the instruments we trade. In our line of work, they explained, deceit and double-dealing is expected and condoned on all sides. Everybody has fair warning. So what's the big deal if we sold a "shitty" product without disclosing it was designed to lose money? But as the day wore on,...

The players on both sides of the trade that the SEC has targeted knew the risks and knew one side was bound to lose. It's far from the worst sin of this mess. Goldman Sachs. John Paulson. Those are hot-button words that have dominated business news lately, with many of the reports biased toward a black-and-white supposition: guilty. This column, however, wouldn't live up to its name if it didn't take a contrarian view. Not surprisingly, I'm going to discuss the Goldman/Paulson flap from a slightly different perspective. What I believe may have happened -- at worst -- is that...

WASHINGTON - One of New York Sen. Chuck Schumer's top recent fund-raisers is a key figure in the Goldman Sachs fraud case, a review of federal campaign records reveals. John Paulson, leader of the $33 billion hedge-fund firm Paulson & Co., helped Democrat Schumer collect nearly $100,000 in the first three months of this year. Schumer is running for a third term in November. The Securities and Exchange Commission says Paulson's company helped assemble a bunch of bad mortgage securities for Goldman Sachs and bet they would tank, while Goldman found buyers who got soaked for $1 billion. The SEC...

I’d like to weigh in on this whole SEC securities-fraud action against Goldman Sachs. The feds have, of course, alleged that Goldman made materially misleading statements and omissions in connection with a synthetic collateralized debt obligation (CDO) that was structured by Goldman and marketed to investors. This is all very complicated. And I know some very smart people lining up on one side saying the SEC’s fraud action is weak. And I know some equally smart people on the other side saying this is an extremely serious matter that will be followed by numerous other SEC fraud charges against other...

In 2004, Paolo Pellegrini was out of a job, living in a one-bedroom apartment in Westchester County, N.Y., with little money in the bank. He soon managed to land a gig working for hedge-fund manager John Paulson. Today, after helping Paulson & Co. score $20 billion with a bet against housing and pocketing about $175 million for himself, Mr. Pellegrini is an unnamed but key character in the government's lawsuit against Goldman Sachs Group Inc. (NYSE: GS), according to people familiar with the matter. The government alleges the bank deceived investors by selling them mortgage securities that the hedge fund...

The billionaire hedge fund manager at the center of an alleged fraud hatched at Goldman Sachs, a leading investment bank, has given tens of thousands of dollars to both parties. Campaign fundraising records show that John A. Paulson, founder and chairman of the hedge fund Paulson & Co., gave $30,400 to the Democratic Senatorial Campaign Committee in June, qualifying him as a major Democratic donor. He also gave $2,300 to Senate Majority Leader Harry Reid’s (D-Nev.) reelection campaign in February of last year and $4,800 to Senate Banking Committee Chairman Chris Dodd (D-Conn.) last April, according to records filed at...

The SEC has filed civil charges against Goldman Sachs and its banker Fabrice Tourre for its role in structuring subprime mortgages, which it structured at the behest of hedge funders like John Paulson. Goldman shares are off 10%. At issue is the lack of disclosure of Paulson's role in selecting the assets that went into the CDOs. There is also an allegation that John Paulson was presented as having gone long the CDO, when in fact he was short.

In a span of just three years, hedge-fund manager John Paulson went from practically unknown to practically unparalleled. After a series of smart bets against the housing market made Paulson's hedge fund billions of dollars—including days where it made more than $1 billion—he earned a place alongside George Soros and Warren Buffett as an oracle of investing. In his new book, The Greatest Trade Ever, Gregory Zuckerman, a reporter at The Wall Street Journal, examines how the unlikely team of Paulson and assistant Paolo Pellegrini—as well as a few other investors—bucked conventional wisdom and saw through the housing hype. Who...