Paulo Pellegrini opened PSQR Management in 2008 with money he earned from successful subprime short bets he made at the Paulson Funds.  Unable to run his own global macro fund at Paulson & Co., he struck out on his own.[1] Previously, he worked as an analyst at Mariner Investment Group.

PSQR had a 52% gain from April to December 2008, and has a 175% gain since inception as of the Q3 2009 shareholder letter.

In short, with a several year time horizon, his strategy in his latest letter is short US dollars, treasuries and equities and long commodities, with low leverage to prevent stopping out of trades.

SHAREHOLDER LETTERS

Q2 2010

2009 Year End

Q3 2009 – Also reviews performance since April 2008 Inception

MEDIA

Pellegrini 80% Return Proves Paulson Protege No Fluke at Fund – Bloomberg, October 2009

Pellegrini to Leave Paulson & Co. to Start Own Fund – WSJ, January 2009

VIDEOS

Pellegrini Calls US Stimulus Policies Wrong Solution – Bloomberg

Exclusive Interview with Paolo Pellegrini – Bloomberg, January 2009