Hedge fund titan John Paulson found himself with more than $1 billion in cash after hacking down a pair of disappointing bank positions during the second quarter… and spent almost exactly that amount acquiring stocks with meaningful dividend yields. continue…

John Paulson is the president and portfolio manager of Paulson & Co., which he founded in 1994. His firm’s focus on risk arbitrage opportunities produced market-beating returns during its first decade, pushing its assets under management to $2.9 billion. But those early results were soon dwarfed by Paulson’s historic performance during the financial crisis. continue reading at gurufocus.com

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