Long FDAX 7853.00. Ready to buy some more. Dynamic hedge in place ! Banks and brokers slaughtered yesterday in U.S. Expect some bargain hunting. And, there is one piece of news that made me think we should near the end of the subprime mess : Paulson & Co. scaled back bets against subprime-mortgage securities, recording investment profits that helped the New York-based hedge-fund manager double assets to $24 billion this year. ``We felt it advisable to lock in most of the gains'' in its merger and corporate event-driven funds, the firm said in a third-quarter report to investors obtained by Bloomberg. Paulson cut holdings of securities linked to subprime home loans by 86 percent across its eight funds in those two strategies. Cool, Paulson !