Hedge Funds

Paulson dials down price in Hamptons


John Paulson, who cleaned up betting against mortgage-backed securities, is having less luck achieving spectacular gains in a personal real estate investment. Paulson has had to drop the asking price of his Southampton home twice this year as he tries to unload the property.

Paulson paid $12.75 million in 2006 for the 6,800-square-foot Southampton home and listed it for $6.75 million more than he paid. But apparently he forgot there's a housing crisis: He has since dropped the price twice, most recently in November, offering it at $13.9 million.