'Mr. Short' goes long on Bank of America

Hedge fund manager John Paulson loves to short stocks. He has made tens of millions of dollars for himself, and more for clients, betting that firms will self-destruct.

In a new filing with the SEC, Paulson discloses that he has gone long in a number of banks stocks. The most prominent position is in Bank of America (BAC). He now owns 168 million shares in the financial firm, which is about two percent of the outstanding stock.