Hedge fund Paulson to weigh buying bank stocks: report
NEW YORK (Reuters) - Paulson & Co, a prominent New York hedge fund, will weigh buying shares or convertible bonds in banks and other financial institutions that need capital, the Financial Times reported on its website on Sunday.
John Paulson, its founder, remained bearish on the economy and the financial sector, but would consider taking positions in the sector as prices fall to his target levels, the paper reported, citing two unnamed investors who were on a Paulson conference call for clients last week.
Paulson is to launch its Recovery fund on October 1, the paper said.
John Paulson cemented his superstar reputation with a historic bet against the housing market that earned him more than $3 billion last year.
The hedge fund could not be reached immediately for comment.
