Hedge fund giant John Paulson made money shorting financials in 2007 and 2008. Now he is buying heavily into the big banks. He also bought a lot of hotels. This is his Q3 portfolio update.
John Paulson buys Citigroup Inc., Varian Inc., Cemex S.a.b. De C.v., Starwood Hotels & Resorts Worldwide Inc., The Hartford Financial Services Group In, Sunstone Hotel Investors Inc., Starwood Property Trust Inc., Conseco Inc., Old National Bancorp, Felcor Lodging Trust Inc., Ashford Hospitality Trust Inc., sells Centex Corp., State Street Corp., Petrocanada, Kimco Realty Corp., Humana Inc., Goldman Sachs Group Inc. The, Market Vectors - Gold Miners Etf, Data Domain, Inc., Centennial Communications Corp., At&t Inc. during the 3-months ended 09/30/2009, according to the most recent filings of his investment company, Paulson & Co.. John Paulson owns 39 stocks with a total value of $20.5 billion. These are the details of the buys and sells.
New Purchase: Citigroup Inc. (C)
John Paulson initiated holdings in Citigroup Inc.. His purchase prices were between $2.59 and $5.23, with an estimated average price of $3.85. The impact to his portfolio due to this purchase was 7.1%. His holdings were 300,000,000 shares as of 09/30/2009.
Citigroup Inc. has a market cap of $92.6 billion; its shares were traded at around $4.05 with and P/S ratio of 1.8. Citigroup Inc. had an annual average earning growth of 5.1% over the past 10 years.
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