FACTBOX-Hedge fund titan Paulson bullish on bonds

NEW YORK Dec 8 (Reuters) - John Paulson, the hedge fund manager who reaped billions of dollars betting the subprime mortgage market would collapse in 2007, is now extraordinarily bullish on the outlook for U.S. and European stocks, as well as bonds and other credits.

In a rare public appearance on Tuesday, Paulson shared his views on the investing environment and how he has positioned his $33 billion hedge fund firm, Paulson & Co, during a luncheon presentation at New York's Japan Society. (For full story double click on [ID:nN08196068]

Below are some facts and figures the usually secretive 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

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)