It’s official: Year-end results now trickling in prove 2008 to be the worst ever for hedge funds. And yet, in a year when long/short U.S. equity funds lost 14.4% and less than one-third of the U.S. strategies tracked by HedgeFund Intelligence were in the black, several funds stand out for remarkable gains.
John Paulson’s Paulson & Co. reported positive results across its strategies. Having risen 1.94% in December, Paulson Credit Opportunities I netted a gain of 18.96% for the year. Paulson Advantage Plus rose 37.58% and Paulson Enhanced climbed 12.5% in 2008.
In December, as the economy continued to weaken,