Dear Paulson Investors

Paulson, the billionaire hedge-fund manager seeking to reverse record losses in 2011, posted a 13 percent decline last month in his gold fund as bullion and mining stocks fell, a person briefed on the returns said today. The loss leaves the $1.2 billion fund, which can buy derivatives and other gold- related investments, down 23 percent this year. Paulson & Co., which manages about $24 billion, posted losses during May in its Advantage funds, Recovery Fund and Partners Enhanced fund. Paulson’s Credit Opportunities Fund rose 0.9 percent last month and 5.3 percent in 2012. [Bloomberg]

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Comments (12)

  1. Posted by The Truth | June 6, 2012 at 3:28 PM

    GLD was down .24% through 5/31. GDX was down 14.9% through 5/31. Paulson gold fund down 23% through 5/31.

    We're gonna need a new greek letter to describe his performance

  2. Posted by VonSloneker | June 6, 2012 at 3:48 PM

    Oh please let the euro blow up so I can just stack CDS and look smart again…this is hard.

    - JP

  3. Posted by Arthur Dunlop | June 6, 2012 at 3:51 PM

    Where are the clients' $49m ranches?

  4. Posted by pazzo83 | June 6, 2012 at 4:21 PM

    ROR!!

    - China Gold Corp

  5. Posted by george37 | June 6, 2012 at 4:36 PM

    (α)

  6. Posted by zero. point. zero. | June 6, 2012 at 5:16 PM

    ΔΤΧ

  7. Posted by Guest | June 6, 2012 at 7:15 PM

    I never understood why you'd pay someone else to do nothing but buy you gold.

  8. Posted by Guest | June 6, 2012 at 7:55 PM

    reverse alchemy

  9. Posted by Harmony House | June 7, 2012 at 9:03 AM

    Keep your head up, John, we've all been there

    -Lou Bega
    -Sisqo
    -Tal Bachman
    -The Baja Men

  10. Posted by Phil Abbate | July 4, 2012 at 12:28 PM

    John why d'ont you buy CVR Energy ? Free cash flow is up 39.5 % over the last 6 years !

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