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Paulson revealed about his investments: BULLISH ON CREDIT With $19 billion of cash on hand at the end of 2008,Paulson said he poured money into a wide range of fixed-income securities, convinced collapsing mortgage and credit markets had reached their nadir at the end of 2008. As of Nov. 30 this year, Paulson's Advantage Fund spread its bets in the following credit markets:
Leveraged corporate loans - 19 percent
Mortgage-backed securities - 28 percent
Defaulted bonds - 21 percent
Current-pay bonds - 30 percent
Debtor-in-Possession credit - 2 percent STOCKS
* Net long exposure to equities is "as high as at its ever been"
* Calls Bank of America Corp (BAC.N), HeidelbergCement AG (HEIG.DE) and Comcast Corp (CMCSA.O) "great buys"
* Bullish on gold bullion ETFs as a hedge against inflation and remains worried about U.S. stimulus spending fueling weakened dollar and price inflation
RESTRUCTURING PLAYS
Paulson said buying significant positions in the debt of distressed and bankrupt companies, with the goal of receiving equity through the process of financial restructuring, is a top focus these days for his funds. In his speech, he said he has positions in the following companies:
Washington Mutual. General .Growth Properties Idearc . DexMed CIT Group.Visteon Lehman Brothers .Lear Nortel. Babcock & Brown Delphi . Lyondell FairPoint Communications . AbitibiBowater R.H. Donnelly Corp . Capmark Financial Group
ASSETS UNDER MANAGEMENT
At the end of November Paulson & Co managed:
* $4.3 billion in merger-arbitrage strategies
* $18.8 billion in event-arbitrage strategies
* $8.2 billion in credit strategies * $1.7 billion in its Recovery Fund
PERFORMANCE
* Since 1994 inception, Paulson has generated a net compound annual growth rate of 16.4 percent
* Only one losing year in that 15-year span - 1998 (Reporting by Joseph A. Giannone; editing by Andre Grenon)
Related news : Hedge fund manager Paulson buying stocks
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