Paulson issues mea culpa for hedge funds' 2011 losses

11/29/2011 | Wall Street Journal, The

Hedge fund manager John Paulson sent a letter to investors apologizing for his firm's dismal performance so far this year. Paulson & Co.'s Advantage Fund and Advantage Plus Fund were reportedly down 29% and 44% respectively as of October. It's been the worst year in the firm's nearly 20-year history, Paulson wrote.

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