Can John Paulson do it two years in a row?

John Paulson was the toast of the hedge fund industry last year. By betting correctly and massively against subprime-related debt, his hedge fund, Paulson & Co., soared. And Paulson himself made $3 billion. In one year! But can he do it again? So far, he's off to a tough start. The New York Post reports that one Paulson fund that invests in mergers and specific situations fell 3.4 percent last month; another fund dropped about 2 percent. While the funds are up for the year, the declines were noteworthy as other funds are posted gains. Still it's early. If Paulson were to win big this year, his legend would be burnished.

For more:
- here's the New York Post article

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