RJ and Makay

Wealthy hedge fund investor John Paulson, who oversees about $35 billion at Paulson & Co, has revealed that his bet on Citigroup generated large profits in 2010. Indeed, the stock rose more than 40%, earning Paulson's hedge fund clients about $1 billion. There are anonymous reports that Citigroup was Paulson's biggest gainer in 2010.

Paulson, who's known for making big contrarian bets, predicted early in 2010 that the economy would recover nicely and the price of gold would jump. He turned out to be right on both counts eventually.