Legendary hedge fund manager John Paulson is quickly closing the gap on George Soros for the crown of "Hedge Fund King." Paulson made billions betting against sub-prime debt and most recently has profited from bullish bets on gold (GLD, Financial) and gold stocks.
In 2010 the Paulson group of funds produced over $8.4 billion of gross gains. However, since founding his firm in 1994, Paulson has generated $32.2 billion gains according to estimates from LCH Investments.
George Soros has generated $35 billion in net gains but his Quantum Endowment fund was created in 1973. In other words, Paulson has almost generated the same level of gross gains in half the time it took Soros to achieve similar gains.
Interestingly, Soros is still the most widely known hedge fund manager on the planet while Paulson remains relatively unknown outside of finance circles.
If Soros continues to stumble as he did in 2010 and Paulson's gold holdings continue to hit record highs it is expected that Paulson will overtake Soros as the most profitable hedge fund manager in history.
In 2010 the Paulson group of funds produced over $8.4 billion of gross gains. However, since founding his firm in 1994, Paulson has generated $32.2 billion gains according to estimates from LCH Investments.
George Soros has generated $35 billion in net gains but his Quantum Endowment fund was created in 1973. In other words, Paulson has almost generated the same level of gross gains in half the time it took Soros to achieve similar gains.
Interestingly, Soros is still the most widely known hedge fund manager on the planet while Paulson remains relatively unknown outside of finance circles.
If Soros continues to stumble as he did in 2010 and Paulson's gold holdings continue to hit record highs it is expected that Paulson will overtake Soros as the most profitable hedge fund manager in history.
