Dealbook – John A. Paulson, the hedge fund manager at the helm of the mighty Paulson & Company, has been bleeding money this summer in his Advantage Plus fund, which was down 31 percent at last count.
In no small part, financial stocks like Bank of America and Citigroup contributed to those losses, a sore that Mr. Paulson began to remedy during the second quarter when he sold off half his stake in Bank of America and brought down his holdings in Citigroup to roughly 33 million shares. He did not abandon financials altogether, though. He bought about 180,000 shares of the CIT Group.
