Asian stocks lower after Wall Street tumbles (AP)

By admin on August 11th, 2011

John Paulson, founder of New York-based hedge fund Paulson & Co., speaks at the Reuters Hedge Funds and Private Equity Summit in New York, in this September 7, 2005 file photo. Paulson became an overnight sensation in 2007 by betting big and early on the collapse of the U.S. housing market, and then doing much of the same on a surge in gold prices. But he is now emerging as one of this year's big losers in the $2 trillion hedge fund industry. His Paulson & Co. hedge fund firm, which managed $38 billion as recently as this past March, is down to about $35 billion as of the first week of August 2011, and it shrinks a little bit more with every big drop in the U.S. stock market. To match Special Report HEDGEFUNDS/PAULSON REUTERS/Chip East/Files (UNITED STATES)AP – Asian markets headed lower Thursday over mounting concerns about the health of Europe’s banks and France’s debt rating.


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