We have all heard of the “credit crisis”, the “subprime crisis” or the “credit crunch” this year. Banks have lost billions and stock markets have fallen, However, not everyone has lost money. One individual did predict the credit crisis and has made a huge profit.
He is John Paulson, a previously obscure hedge fund manager from New York, who took home $3.7bn (£1.9bn) last year, after betting on a calamity in the mortgage market.
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