John Paulson, otherwise know as “the guy who made over $3 billion shorting mortgages” has files a 13F in his hedge fund Paulson & Co.
Notable moves:
Added 7 million shares of Phillip Morris International (PM)
Added 2.7 Million shares of Bank of America (BAC)
Increased NYMEX Holdings (NMX) ownership from 1 million to 2.5 million shares
Added 3.4 million shares of Wrigley (WWY)
Sold 4.5 million shares of Altria (MO)
What is interesting is the purchase of Bank of America. Paulson, who it can be argued saw the current housing and mortgage market mess before anyone, must see some light at the end of the tunnel. Either that, or he thinks BAC’s valuation is so low, he is protected from more bad news.
Either way, it does bode well as a glimmer of hope….
Full August filing
Full May filing
Disclosure (“none” means no position):Lonh PM,MO, none
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