Wednesday, May 8, 2013

Hedge fund chief Paulson loses bigtime on gold

Reuters reports that hedge fund billionaire John Paulson is emerging as one of the biggest losers in this year's gold rout, further tarnishing his once legendary status in the $2 trillion hedge fund industry.

Paulson's $700 million gold fund lost a whopping 27 percent in April, when the price of the metal plunged 17 percent over a two-week stretch, according to performance figures provided by a person familiar with the fund….

The majority of the money invested in the Paulson gold fund is believed to be the billionaire's own.

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