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Thursday, 31 July 2014

Moral hazard trade pays off big for hedgies

Bailout bonanza

The top 25 hedge fund managers fattened their wallets by a record $25 bln in 2009. Many of them, including David Tepper and John Paulson, bet on banking and credit recoveries that depended on government intervention. At least they're in the same boat as their investors.



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