Paolo Pellegrini saw the trouble in rising housing prices early. He helped John Paulson’s fund engineer a massive bet against subprime mortgages. Paulson & Co. gained 590% in 2007 — more than $3.5 billion.
Seeking to show he was no one hit wonder, Pellegrini opened his own fund this year — and its up 80%.
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Paolo Pellegrini interview with Bloomberg in January 09 is here.
Pellegrini 80% Return Proves Paulson Protege No Fluke at Fund
Bloomberg, Oct. 2 2009