Looks like someone was betting on a surge in the stock market ... Whoops .... Jan. 6 (Bloomberg) -- Billionaire hedge-fund manager John Paulson lost 51 percent last year in one of his largest funds, according to an investor update obtained by Bloomberg News. Paulson's Advantage Plus Fund, which seeks to profit from corporate events such as takeovers and bankruptcies and uses leverage to amplify returns, declined 8.6 percent in December. The fund's gold share class dropped 10 percent last month and 36 percent in 2011. Armel Leslie, a spokesman for New York-based Paulson & Co., declined to comment on the firm's returns. Src: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/01/06/bloomberg_articlesLXEF7T6VDKHU.DTL
