John Paulson’s lousy 2014 is getting worse. The billionaire’s firm posted a 27 percent year-to-date loss in its event-driven fund after a 3.1 percent decline in November, according to two people familiar with the matter. The Paulson Recovery Fund has declined 14 percent this year and a version of the event-driven strategy that can buy new share issues such as Alibaba Group Holding Ltd. (BABA) has fallen 17 percent. Paulson & Co. oversees about $19 billion in hedge funds that can bet on credit markets, mergers and corporate events. The firm has lost money in recent months on Fannie Mae and Freddie Mac securities and ... (full story)