Hedge fund of the year: Paulson & Co

Risk awards 2011


New York-based Paulson & Co became one of the most famous hedge funds in the world in 2007, when a canny short position in US subprime mortgages netted the firm a whopping $15 billion return – dubbed the greatest trade ever. Since then, market participants have watched Paulson’s every move with interest. After taking a long position in distressed credit at the end of 2008 and into 2009, last year saw a transition into the equity of firms facing bankruptcy or restructuring. But