JOHN PAULSON RETURNS TO EARTH

摘要

Is John A. Paulson, the hedge fundrnmanager who earned billions bettingrnagainst subprime, a one-megahitrnwonder?rnThe founder of Paulson & Co. doesn't even look average this year. His biggest portfolio, Advantage Fund, has returned 15% vs. 17% for peers. And while his major bets on gold and big banks are paying off, such holdings aren't likely to produce the record gains that made him a rock star on Wall Street. "Paulson is quite capable of making money," says Tammer Kamel, managing partner of Toronto's Iluka Consulting Group, which advises clients on hedge funds. "But I don't think he has some crystal ball that will enable him to make [huge gains] year after year." A spokesman for Paulson declined to comment.