1. John Paulson – Paulson & Co: Paulson’s Advantage Plus fund finished the year down 52.5%, while its unleveraged Advantage fund fell 36%. Paulson’s Recovery fund dropped 28%. Paulson’s credit fund was down 18%. Paulson Partners fund was down 10%, and its gold fund lost 10.5% in 2011.
2. Bruce Berkowitz – Fairholme: Bruce Berkowitz also had a terrible year. Fairholme lost 34.9% in 2011.
3. Philippe Jabre – Jabre Capital: As of December 20th, Jabcap Global Balanced Fund Ltd is down 26.88%.
4. Stephen Mandel – Lone Pine Capital: Lone Pine’s worst performing fund is Lone Dragon Pine which is down 25.3% through September.
5. Whitney Tilson – T2 Partners: T2 Partners lost 24.9% in 2011.
6. Crispin Odey’s Odey Asset Management: The Odey European fund lost 5.34% in the first 14 days of December. The fund also lost 22.67% in 2011 through December 14th
7. Paul Tanico – Castlerock: The fund lost 21.28% through the end of November
8. Steve Heinz – Lansdowne: Lansdowne’s UK Equity fund lost 19.65% through December 23rd.
9. Mark Kingdon – Kingdon Capital: Kingdon Offshore fund lost 17.73% through December 23rd.
10. Lee Ainslie – Maverick Capital: Maverick Fund lost 14.56% through December 23rd.
