In praise of John Paulson

Looks like John Paulson is here to stay? Or is he? Let's face it, smashing the market for consecutive years is not easy. Few are able to do what he has done. For the past two years, he has really set the world on fire. So far this year, his streak seems to be continuing. He won big by betting against big U.K. banks. Unfortunately, he lost one of his managers, Paolo Pellegrini, who ran the credit opportunities fund last year and intends to start his own fund, but few will be surprised if the graces the top of the tables this year.

So what's he up to now? Here are some new positions, according to Market Folly: SPDR Gold Trust, Gold Fields, Gold Miners ETF, Anglogold Ashanti, Capital One Financial, JPMorgan Chase,  Petro-Canada, Schering Plough and Wyeth. He no longer holds a stake in Wells Fargo.  

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