The market has crumbled, big-name hedge funds are struggling and investors are licking their wounds.
But John Paulson is having another good year.
Last year, Mr. Paulson racked up more than $15 billion of gains for his hedge-fund firm, Paulson & Co.
This year, the three main funds managed by his $35 billion firm are up between 15% and 25%, according to investors. If these gains hold, Mr. Paulson could reap a payday of more than $500 million for this year, according to estimates by investors. Last year, he personally made more than $3 billion. While some other hedge funds ...