Can this man lose? In 2007, his stunning returns generated $3 billion in fees. In 2008, his group was one of the few that managed to post gains, amid the worst average performance in hedge fund history. So far this year, John Paulson still seems to be faring well. In fact, according to Bloomberg, he may have made as much as $67 million in 25 minutes last week when his short bet on Lloyd's Banking Group paid off as the company announced more dire news.

He's been fairly bearish on banks so far this year. But that's far from his only investment idea. The New York Times offers a look at his year-end letter to investors. He seems to be bent on more distressed debts. 

For more:
- here's the Bloomberg article

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