Well, isn't this special?
Hedge fund manager Paulson earns $3.7 billion
And how exactly did he do that? Oh ...
Bets on a U.S. housing crisis earned hedge fund manager John Paulson $3.7 billion in 2007, ahead of industry legend George Soros and 2006's highest-paid manager James Simons, according to Alpha Magazine.
Paulson, whose bet that investment grade mortgage bonds would be subject to default in record numbers came good in the subprime meltdown last summer, was one of five managers earning more than $1 billion, Alpha said in a note on Wednesday.
So you losing your house? No problem ... it still worked out well for someone else. Quite nicely, too.