It was only a meteoric end to 2010 that saw Paulson & Co post positive returns for the year.PARA_BREAK_SENTINEL_9f8e7d6c

It was only a meteoric end to 2010 that saw Paulson & Co post positive returns for the year. The firm’s flagship Advantage Fund delivered 17 per cent, but as of August 2010 it was down 11 per cent. The same tough times are facing Paulson, one of the industry’s most respected hedge fund managers, in 2011: for the first half of the year the flagship fund was down 12 per cent whilst Advantage Plus had lost 18 per cent. It prompted an urgent conference call to investors last week, during which Paulson took responsibility by admitting he had been “too aggressive” and promised to do better.