Friday, January 28, 2011

A Trader Made $5B in Profits in 2010

Reuters reports that a trader personally made over $5B in 2010, slightly more than me, or you it seems, as in fact, he made more than anyone trading on Earth, ever.

His name is not unfamiliar: hedge fund manager John Paulson ,"personally made more than $5 billion in profit in 2010, which may likely be the largest one-year earnings in investment history", says Reuters, citing the Wall Street Journal.

Paulson was famous for his profits shorting the subprime market in 2007 and making a record $4B. That record is now gone.

"Known for making big, contrarian calls, Paulson said early in 2010 that he expected to see strong economic recovery and a rebound in housing prices. He also made a big bet on gold".

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