Some Of Paulson & Co.'s Hedge Funds Post Big Losses In March

March turned out to be a rough month for billionaire hedge fund manager John Paulson and his firm, Paulson & Co. His largest portfolios posted losses in the first quarter, with much of the damage done in March. According to insiders, the Advantage Fund, the firm's largest, fell 1.24% in the first quarter, including 3.10% in March. Paulson's Advantage Plus Fund, which uses leverage, has lost 1.74% this year, with a 4.4% downdraft in March. The firm's gold fund lost 0.87% in the first quarter. Paulson & Co. is one of the world's largest and most successful hedge funds with $36 billion in assets. A couple of other smaller offerings did quite well for the billionaire. These included the arbitrage-oriented Paulson Partners, which gained 3.86% during the quarter and that Paulson Enhanced fund added 6.94% during the first three months. His Recovery fund is up 3.8% for the year and the Credit Opportunities Fund gained 6.44% during the first quarter.