场上的一个大多头已经有些不那么乐观了。
约翰•鲍尔森(John Paulson)曾因下注楼市崩盘而大赚，最近又预测会出现通货膨胀和强劲的全球复苏。鲍尔森在写给投资者的信中说，考虑到“经济前景的不确定性”，他已经下调了部分仓位。
鲍 尔森公司(Paulson & Co.)管理着310亿美元的资产，其客户在本周收到了鲍尔森写的这封信。鲍尔森在信中说，他已经减少了多只基金的市场敞口。他的“复苏基金” (Recovery Fund)旨在随着经济环境的好转而从股市和债市中获利，今年早些时候每持有1美元就投资接近1.40美元，现在是投资1.07美元左右。鲍尔森的其他基 金也大幅削减了持仓量。
这封信首先是由《金融时报》(Financial Times)报道的。
信中很多地方都重复了鲍 尔森过去的乐观观点。他谈到楼市如何正在“企稳”，零售业销售如何有恢复力，公司利润又是在如何攀升。他还认为，从过去的情况来看，股市的市盈率是有吸引 力的，并说股市走强可能有助于经济增长。但鲍尔森还是削减了公司的持仓量。他同时声称，重组和破产中的公司在股市上最有吸引力。
One of the market's biggest bulls is turning a bit less optimistic.
John Paulson, who made billions betting housing would collapse but has recently predicted inflation and a robust global recovery, has told his investors he has pared some positions, due to 'uncertainty regarding the economic outlook.'
In the letter, received this week by clients of $31 billion Paulson & Co., Mr. Paulson said he had pared his exposure in various funds. His Recovery Fund, which aims to profit from stocks and debt as times improve, now has about $1.07 of investments for each $1 it holds, down from nearly $1.40 of investments earlier this year. Mr. Paulson's other funds have reduced their holdings less dramatically.
The letter was first reported by the Financial Times.
Much of Mr. Paulson's letter reiterated his optimism. He spoke of how the housing market is 'stabilizing,' retail sales are resilient and corporate profits climbing. He also argued that stock prices, relative to earnings, are attractive on a historic basis, and said that a stronger stock market likely would help economic growth. Still, Mr. Paulson moved to pare his firm's holdings while arguing that shares of companies in restructuring and bankruptcy are the most attractive.