Wednesday, August 29, 2012
Notes from the John Paulson Call - by Joshua Brown
Using my advanced ninja skills I got myself onto the Bank of America Wealth Management-hosted conference call starring John Paulson of Paulson & Co this evening.
The notoriously press- and attention-shy Paulson agreed to be on the call a week after Citigroup pulled $410 million from the hedge fund manager and so at least some part of this was about damage control. Paulson was quick to point out that Citi's financial advisors had not pulled their support for him directly, rather it was Citi's feeder fund. He also expressed gratitude to the BAML advisors for their longstanding relationship with Paulson & Co.
And then it was game on.
I have a few observations I'd like to make, in no particular order...