What hedge fund whiz John Paulson sees in Liberty Media: DirecTV

Investors keep a close eye on what hedge fund titan John Paulson is trading. And given the massive profits the superstar amassed betting against the subprime mortgage sector, it's little wonder.

But while Paulson's recent purchase of Citibank (C) and sale of Goldman Sachs (GS) have caused a buzz, investors should also take a look at another trade that has so far remained largely under the radar: Paulson's funds have more than doubled their stake in Liberty Media (LMDIA) to 44.75 million shares from 20 million as of Sept. 30.