Paulson stocks up on Bank of America in Q2
China Daily | Updated: 2009-08-14 08:09
NEW YORK: Hedge fund manager John Paulson, who made a fortune betting against financial companies after foreseeing the credit crisis, stocked up on shares of Bank of America Corp during the second quarter.
A regulatory filing on Wednesday also showed the widely watched investor had stocked up on other banks, gold miners and drug makers.
His namesake Paulson & Co, which has vaulted to the top ranks of hedge fund managers after two standout years, bought 168 million Bank of America shares during the quarter to become the North Carolina-based bank's fourth-largest stockholder.
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