Paul Singer, founder of $17 billion hedge fund Elliott Management, is the newest investor GuruFocus has chosen to track. Singer has a background in law that set the stage for his formidable distressed debt tactics he has used to profit from bankrupt companies and sue sovereign nations. From 1977, the year he founded his firm (making it one of the oldest hedge funds), to November 2010, he had an annualized net return of 14.4%. As one of the few to foresee and warn of the pending housing crisis in 2008, his fund was only down 3.08% in 2008, compared to the S&P 500 which was down 37% the same year.
Singer graduated from the University of Rutgers with a B.S. in psychology and then obtained a J.D. from Harvard Law School. He practiced law for four years after graduation at corporate law firms and Donaldson, Lufkin & Jenrette, an investment bank. Continue Reading »