Intellectual Arbitrage is the idea that in knowledge or service intensive industries, there's an opportunity to apply intellect at price points that are not previously possible, in order to achieve dramatic business outcomes. -Francisco D'Souza
FT.com | Paulson's flagship funds hit by volatility The world's greatest hedge fund manager, John Paulson, and the largest beneficiary of the global financial crisis to this point has seen tougher times thus far in 2010. Flagship Paulson & Co Advantage Fund is down -5.8% year to date, and the Paulson Recovery Fund lost -9/9% in May and -12.39% June. The only fund up on the year to date is the Gold Fund (+13% ytd). Other global macro icons have struggled in the current environment as well, with Louis Bacon's Moore Capital down -6.9% ytd, while Paul Tudor Jones' BVI Global fund has fallen -1.8% ytd.