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BRIEF-Hedge fund manager John Paulson says he expects V-shaped economic recovery, expects housing prices to rise

BOSTON, May 10 (Reuters) - * Hedge fund manager John Paulson says he expects v-shaped economic recovery, expects housing prices to rise * Paulson says most gains from distressed investing have been realized * Paulson says this almost the best time to buy a home in history * Paulson says thinks U.S. economy will recover strongly, will grow in excess of estimates * Paulson says expects housing prices to rise between 3 and 5 percent in 2010, rise between 8 and 12 percent in 2011 * Paulson says planning to close the Advantage Funds, which oversee roughly $19 billion, to new investors this year, will give details later this year about his plans. * Expects to keep other funds, including Credit, Gold and Recovery funds open to new investors. * Paulson says that generally size has not limited his ability to deliver strong returns. (Svea Herbst, Boston Equities; tel: +1 617 856-4401) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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