John Paulson still bucking hedge funds trend

December 2, 2008 | By Jim Kim

Hedge funds are well on their way to a truly horrendous year (but not as bad as stock mutual funds). While most of the news has been negative, John Paulson of Paulson & Co. continues to buck the trend. After a spectacular 2007, for which he famously raked in $3 billion, he's on his way to another big year. Bloomberg reports he's still bearish on banks and has profited handsomely; four of his firm's funds were "among the 20 best-performing, and the 20 most profitable, hedge funds for the first nine months of 2008." The profile notes he doesn't seem to be gloating, not in front of a reporter anyway. The best performer so far this year, according to Bloomberg, is the Medallion Fund, run by Renaissance Technologies.

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