John Paulson's Fund Could Earn $726M From Discounted Shares Of Lehman Brothers

05/10/2011 08:25 am ET | Updated Jul 10, 2011
  • MATT WIRZ, MIKE SPECTOR and TOM MCGINTY Wall Street Journal

Hedge-fund manager John Paulson made $4 billion betting against subprime mortgages, the market that ultimately helped destroy Lehman Brothers Holdings Inc. Now, his fund is poised to make hundreds of millions picking through the investment bank's remains.

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