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Complete John Paulson 2010 Year End Letter

Tyler Durden's picture





 

...in which we learn that the head fixed income trader, Brad Rosenberg, of the fund whose boss made $5 billion in 2010 has traded over $100 billion in bonds.

Full letter:

 

 


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Fri, 01/28/2011 - 16:06 | Link to Comment Mr Lennon Hendrix
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Fuck John Paulson.

Fri, 01/28/2011 - 16:08 | Link to Comment william the bastard
william the bastard's picture

who's he gonna sell all that paper gold to after he's finished looting his investors?

Fri, 01/28/2011 - 16:31 | Link to Comment SheepDog-One
SheepDog-One's picture

Precisely! Die Paulson DIE!!!

Fri, 01/28/2011 - 16:23 | Link to Comment plocequ1
plocequ1's picture

Whos John Paulson? Isnt he that guy who did that thing sometime last year?

Fri, 01/28/2011 - 16:32 | Link to Comment SheepDog-One
SheepDog-One's picture

No you're thinking of ROBERT Paulson.

Fri, 01/28/2011 - 16:41 | Link to Comment plocequ1
plocequ1's picture

No, That was the other thing. Im talking about the thing.

Fri, 01/28/2011 - 17:43 | Link to Comment Mr Poopra
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You mean Hank.  I thought Hank did the thing.

Fri, 01/28/2011 - 17:43 | Link to Comment Mr Poopra
Mr Poopra's picture

You mean Hank.  I thought Hank did the thing.

Fri, 01/28/2011 - 17:45 | Link to Comment william the bastard
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WTF is Robert Paulson?

Sat, 01/29/2011 - 01:21 | Link to Comment plocequ1
plocequ1's picture

He is the guy who who did business with that man

Sun, 01/30/2011 - 05:33 | Link to Comment Hephasteus
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You are the goofiest person on zerohedge. And that's saying A LOT.

Fri, 01/28/2011 - 16:25 | Link to Comment Quixotic_Not
Quixotic_Not's picture

I was so stupid not to go to Perp school and then Ivy League  racketeer training - I had no idea you got a license to steal with those diplomas!

Fri, 01/28/2011 - 18:18 | Link to Comment snowball777
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That'd be the funniest typo of the week, if the fuckers ever saw jailtime.

Fri, 01/28/2011 - 16:26 | Link to Comment william the bastard
william the bastard's picture

Why would you pay anyone 2% of your investment and 20% of your profits to buy gold for you?

Fri, 01/28/2011 - 16:47 | Link to Comment DonnieD
DonnieD's picture

Why would you pay 2 and 20 to buy BAC for you?

Fri, 01/28/2011 - 16:52 | Link to Comment ajax
ajax's picture

@ william the bastard: Because you can?

Fri, 01/28/2011 - 17:03 | Link to Comment ClaymoreStoor
ClaymoreStoor's picture

Do you think his investors care about the 2 and 20 when he made them 30-40% last year alone?  I think not. I wish I could put all of my money with him. 

 

Fri, 01/28/2011 - 17:51 | Link to Comment Math Man
Math Man's picture

 

That is why he keeps having outflows.

The only thing that increased his AUM was investment returns.

My guess is he'll soon see outflows from his Gold funds too.

 

 

Fri, 01/28/2011 - 18:19 | Link to Comment snowball777
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@Willy the B:

Because some people are so dumb they can't even read ZH.

Fri, 01/28/2011 - 16:38 | Link to Comment gwar5
gwar5's picture

But did he steal it fair and sqaure?

Fri, 01/28/2011 - 16:53 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

Hey Harry, you dumb fuck, look at all the buyers stepping in at the closing bell to prepare for "good news" weekend.

Fri, 01/28/2011 - 16:55 | Link to Comment buzzsaw99
buzzsaw99's picture

Now he just needs to become secretary of something and PAY ZERO TAXES!

Fri, 01/28/2011 - 16:57 | Link to Comment SheepDog-One
SheepDog-One's picture

OT but funny- Now Bloomberg is saying gold gets a 'safe haven boost' after bashing it as basically worthless as tin for weeks. The flip flopping and flailing is hillarious!

Fri, 01/28/2011 - 17:06 | Link to Comment ClaymoreStoor
ClaymoreStoor's picture

It really is unbelievable.  I completely ignore the MSM's opinion of gold or PM in general.  It's like a Jr. High popularity contest, only far worse.

Fri, 01/28/2011 - 17:46 | Link to Comment Quixotic_Not
Quixotic_Not's picture

If you actually knew Bloomterd "journalists" like I do, you wouldn't ever read their dreck & pablum again.

Fri, 01/28/2011 - 17:00 | Link to Comment Seasmoke
Seasmoke's picture

i think sometime in the near future if your name is Paulson, its going to be dangerous to walk the streets .....ANYWHERE !

Fri, 01/28/2011 - 20:13 | Link to Comment eatthebanksters
eatthebanksters's picture

$10om buys you lots of friends...$5b buys lots of enemies, I hoep he has good security guards; he's gonna need them, sooner than later if this shit in Egypt gets outta hand.  Can you believe Hillary?  Telling everyone in Egypt to stop demonstrating and go home?  What a moron...she's more fucking worried about oil prices and our economis than the poor fucks over there...just like our Pols, more worried about making sure the TBTF banks survive than prosecuting some of the perps for criminal behavior.  They should all be worried, cause if the shit hits the fan, they're all in the hot seats.  I guess its the price you pay if you're a greedy powercraving fuck; when things are good people love you, when its bad they string you up.

Sat, 01/29/2011 - 13:32 | Link to Comment satansanus
satansanus's picture

hillarys a waco

Fri, 01/28/2011 - 17:21 | Link to Comment 43 Steelie
43 Steelie's picture

Can someone explain to me how his "gold share classes" work?

So as an investor I can choose to enter any of his funds and have my securities denominated and returned to me in line with the concurrent appreciation in gold.

But how do you buy and sell fixed income, equities and real estate at an institutional level using gold? Presumably each time you do those transactions you need to purchase USDs and be repaid in USDs. You either hold the gold or you don't. 

TD, what am I missing here?

Fri, 01/28/2011 - 18:46 | Link to Comment rawsienna
rawsienna's picture

He can thank QE2 for everything. 

Fri, 01/28/2011 - 20:15 | Link to Comment eatthebanksters
eatthebanksters's picture

+1     Do you think he lunches with Benny or Timmeh?

Fri, 01/28/2011 - 21:13 | Link to Comment AccreditedEYE
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This material may not be distributed to other than the intended recipient. Unauthorized reproduction or distribution of all or any of this material is strictly prohibited...

LMAO!!!

Mon, 05/16/2011 - 21:40 | Link to Comment tony1983
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