New York hedge fund manager John Paulson has replaced Warren Buffett as the nation's most influential investor, in the opinion of three of tonight's Fast Money traders.
This month, reports that he's buying multi-billion dollar stakes in Bank of America and Citigroup have sent those stocks higher, a sign of his growing influence on professional investors.
As the Fast Money Rapid Recap points out tonight, Paulson's personal wealth is substantial and growing quickly, but still just a fraction of Buffett's. In this year's Forbes ranking of global billionaires, Paulson is number 76 with an estimated $6 billion. He had a net worth of $300 million at the beginning of 2007. Buffett is number two in the world with $37 billion.
Buffett's track record as a successful stock picker is also much longer, spanning many decades. But his investments over the last year or so have focused more on high-yielding corporate debt rather than common stocks.
It's too early to know if Paulson really will be seen as the "Warren Buffett of our lifetime," as Steve Grasso boldly puts it, but his star is shining very brightly right now on Wall Street.
Here's the conversation from tonight's Fast Money on CNBC: