Tags: Gold, John Paulson, menses horribiles
Last month, John Paulson sat down with his investors and told them he wouldn’t personally be putting any more money into his worst-ever investment thesis, gold. This pronouncement came several months after Mr. Paulson made clear he didn’t want to talk about the shiny stuff anymore, since all of his other investments are doing swimmingly and because he is basically the only person still losing money on his chastened-but-still-extant belief that his gold investments, while down 60%-plus this year, will richly reward him when people realize that all the Fed has been doing for the last five years is setting us up for one hell of an inflationary headache.
Well, if he’s going to keep his new pledge, J.P.’s going to have to ignore what must look to him like some pretty attractive prices for the precious metal: After looking briefly like it had maybe kinda sorta hopefully turned a corner, gold went and had its worst November since the Carter administration. Read more »
Tags: flier wars, Gabriel Resources, Gold, GTFO, John Paulson, Paulson and Co, protests, Romania, Rosia Montana, Silvia Pena
What they lack in numbers they make up for in signage, flyers, and to the point demands (“GTFO”…of your investment in a company that wants to mine gold in a Romanian village). Read more »
Tags: Gold, hedge fund managers, John Paulson, mind ya business, Paulson and Co, performance
Why do people (investors, media, random passersby on the street, this lady) like to harp on all the money John Paulson has lost in the past couple years, despite the fact that they could be talking about his new hot-ish streak? Why can’t he get a little credit for all of his great investment ideas, instead of relentless bitching and negativity about the ones that haven’t yet panned out? It’s something the hedge fund manager has thought a lot about lately and while “I’m surrounded by fucking assholes” seems like it could account for some people’s behavior, he’s finally come up with what seems like a pretty good general explanation: it’s those damn gold funds. Sure, they’ll make money one day but first they’ve got to lose a lot and reading that “have lost forty seven percent for the year” distracts people from “up 3.4 percent!” So, there’ll be no more of that. Read more »