One of the hedge funds run by John Paulson, whose prescient bets against housing where chronicled in the book “The imagesGreatest Trade Ever,” is on track to be the second worst performer of 2012 among the universe of funds tracked by HSBC.

Last year, it was the worst. Paulson’s Advantage Plus fund, which uses additional leverage than his other funds, is down 19 percent through the end of October, following a 53 percent loss last year. Continue reading