Paulson Makes a Statement About Citigroup

Sometimes a good investment strategy is to follow the actions of the financial greats, such as Warren Buffet and Peter Lynch.  Maybe not quite as popular as those two, but still has made a name for himself is John Paulson, a hedge fund manager of Paulson & Co., Inc. which he started in 1994.  Paulson made out big by shorting US and British banks last year, and is now swinging the pendulum the other way.  He recently took up a 2% stake in Citigroup Inc. (NYSE:C) this last week.

That news comes just after it has been reported he bought 168 million shares of Bank of America Corporation (NYSE:BAC) in the second quarter, as well as 14.9 million shares of Capital One Financial Corp. (NYSE:COF), 35 million shares of Regions Financial Corporation (NYSE:RF), and smaller stakes in Fifth Third Bancorp (NASDAQ:FITB) and Goldman Sachs Group, Inc. (NYSE:GS). I don’t think there are any other big bank names that he can buy.  Seems like one of the greatest investors of today is making a statement, banks are your ticket to profits in the months and years ahead…  Go long.