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Tana GoldFields Paulson Halves Exposure to Gold

Discussion in 'BlackHat Lounge' started by nurariff5, Aug 15, 2013.

  1. nurariff5

    nurariff5 Newbie

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    Mr. Paulson notched huge profits in 2007 and 2008 betting against subprime mortgages, and investment gains plus new inflows of cash drove his firm to $36 billion in assets under management. Missed calls since, plus investor redemptions, have shrunk the size of the firm.

    This year, although the gold fund has suffered, his other funds have been faring better.

    The Paulson Recovery fund, for example, was up nearly 34% through July, according to a person familiar with the firm, and his merger-arbitrage fund was up 12.9% for the same period; another version of the fund that uses additional leverage was up 26.6%.