"It's like Wimbledon. When you win one year, you don't quit. You want to win again."
-- John Paulson, whose three main hedge funds have risen 15% to 25% this year, according to today's Wall Street Journal. And that comes on top of gains of some $15 billion for Paulson & Co., his 70-person firm, last year. While Paulson made a few mistakes--buying Yahoo! (YHOO) and Mirant (MIR), for example--he's won big by shorting the financial giants. Now he's raising money for a new fund that will invest in beaten-down financial companies. --Jessica Shambora
Former Lehman Brothers (LEH) CFO Erin Callan has landed quickly—at Credit Suisse Group (CS). She's the new head of its investment bank's global hedge fund business.
I hear that she's been holed up in the Hamptons, and I expected her to take a while to find a new job. Some speculated that she would go to a hedge fund such as Chicago-based Citadel or Och-Ziff (OZM), and maybe even get out MOREJessica Shambora, Writer-Reporter - Jul 15, 2008 4:07 PM ET
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