Paulson loses 13 per cent in first two weeks of June (Fund News)
One of John Paulson's largest funds, the Advantage Plus fund, lost 13 per cent in the first two weeks of June. The billionaire hedge fund manager, who made his fortune on a short bet against subprime mortgages, ironically is being crushed after a short seller issued a critical report on a Chinese forest company he owns shares in.
About eight people besides a Taiwan-born technology consultant who is on trial for insider trading provided stock tips to Barai Capital Management, a former employee of the hedge fund testified on Tuesday.
Sarkozy calls for tighter regulation of commodity speculators (Headlines)
French President Nicolas Sarkozy called for tighter controls on the speculators he blames for spiraling food and energy prices, spelling out reforms to put more trading under the thumb of regulators.
Gaia faces heavy redemptions after Japan earthquake (Fund News)
Gaia Capital Management's Japan-focused hedge fund, started by a former Goldman Sachs trader, lost more than three quarters of its roughly $150 million assets in just two months as the March 11 earthquake blew aside its assumptions, a letter to investors obtained by Reuters showed.
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