Has John Paulson lost his magic touch? - Telegraph

Has John Paulson lost his magic touch? - Telegraph

John Paulson isn't used to losing money. Anticipating the worst financial crisis since the Great Depression turned him into one of the world's richest men in the space of a year.

And the now legendary Wall Street hedge fund manager has certainly never seen almost half a billion dollars of his fund's money disappear in the murky undergrowth of southern China's forests before. But that's what happened in the last ten days to an investor said to have taken home $5bn (£3.1bn) in profits last year alone.

Paulson & Co, which operates out of offices near New York's Radio City Music Hall, racked up the loss after shares in Sino-Forest, a Chinese timber company in which it had invested since at least 2008, crumbled.