The Banking and Strategy Initiative

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Paulson’s Advantage plus lost again, Banks have a lot going for them … | Fund Strategy Insight

.. but Paulson lost only 1.5% down in February

February fund data firmly drives home the point of bank recovery having stalled mid month after the housing loan settlement in 49 states got most of them off to a new start in home loans forgetting the existing 30 mln outstanding loans, but of course that was not Paulson’s concern having got out of big 4 banks in November.

Banks get thru a new home loan settlement only to..

From all indications, the upcoming results of Chinese banks are also not John Paulson’s concern this time around, state investors having added to their holdings in the banks to nearly 70% as they come out with results showing their great advances in 2011 with no bad results from the $1.7 tln in loan write offs

It’s fashionable to predict Greek Default but..

Ofcourse his most recent predictions on Greek Default and more have no longer anything to do with his holdings in the Advantage Plus Fund even if he thinks otherwise. He is earning from his infamous investment in Sino Forest at least this month while it is still on his portfolio as State Divestments in Rail corp and Nat Gas Corp among others get noisy news in Beijing ( Lingzhai) outside the National People’s Congress hqs.

Fannie mae and Freddie Mac can potentially save on Litigation

Internal Inquiries costs at leasst for home mortgage resellers Fannie Mae and Freddie Mac have now been included in a new Republican bill requiring collateral for individual officers’ fees to be advanced by the firms, but that again doesnnot save the Paulson fund dollars in February as Fannie and Freddie have already spent $100 mln and $50 ml n each on three individual officers in Fannie mae’s case and similar costs for Freddie Mac one assumes.

While some quasi Non banks from the shadow Banking world seem more Oil minded

KKR for one with another $250 mln partnership in shale, this time with Chesapeake and even Goldman Sachs and morgan Stanley fighting with the fine print on the El Paso deal to split the fees of the $21 bln deal, could be new role models for John Paulson, but one suspects he may just be waiting for Greece to get over before getting back into banks at healthier levels …( Though I doubt if there is the upside left, or even as Apple gets hammered, in the new $1 T candidate)

Rest assured however, Advantage Plus lost money again in February, though up 5% for the year, and his Gold Fund is still up 8% for the year. the Plus fund lost 1.5% in February and the Gold fund 4.8%. S&P was up 8.9% till end of February

Meanwhile, much venerable competition from Lincoln, NE Warren Buffet also skipped the Press meet after the letter to the shareholders last week and announced that he has a closed sealed envelope with him twitht he chosen successor’s name written in ink.

 

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