Tags: Gold, hedge fund managers, Hedge Funds, John Paulson, Paulson and Co, unrequited love
John Paulson sat at his desk, staring at the office supplies that were all but making a mockery of him. The gold pens. The gold paper clips. The gold-plated keyboard, identical to the ones that he’d decreed everyone in the office have, too. He’d ordered them last year, along with the gold staplers, gold tape dispensers, gold paper weights. As his analysts were begging him to dump his holdings, he was directing his secretaries to get rid of everything in the office that didn’t reflect his position–nay, his feelings– for the precious metal that wasn’t nailed down to the floor. And how had gold repaid him? How had it treated his fund? By losing something like 10,000% and spitting in his face. And yet he still would not budge. Not when gold lost him hundreds of millions. Not when his friends, people who really cared about him, took him aside and said, “I’m telling you this as a friend: she’s out there making a fool of you.”
But now, as he stared at the keyboard, all he could think was how much he hated gold. He had a right mind to kick her to the curb, and that’s exactly what he was going to do. Paulson shot up out of his chair and raised his arm to sweep the keyboard, the pens, and the paper-clips into his, yes, gold-plated waste paper basket, with one cleansing motion, when a trusted adviser came bounding through the door.
“P!” he shouted. “You’re not going to believe this.” Read more »
Tags: Comcast, John Paulson, logic prevails, Philadelphians, Time Warner Cable, with a K
When John Paulson & Co. bought up a bunch of Time Warner Cable shares last year, he hoped and prayed that Hank Hooper & Co. were thinking the same thing he was. They were, and now he’s $200 million-plus to the good. Read more »
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: get down with your bad self, hedge fund managers, Hedge Funds, John Paulson, Paulson and Co, performance
Hedge fund manager John Paulson, known for huge gains followed by heavy losses in some of his funds, extended his portfolios’ winning streak in September, leaving all of them with double-digit gains for the year, a person familiar with the numbers said on Monday…Paulson told investors that his Recovery Fund gained 4.2 percent in September and is up 37.8 percent for the year, while the Paulson Enhanced fund gained 3.1 percent and is up 25.6 percent for the year, the source said. Even his Advantage Funds, the firm’s biggest before suffering heavy losses in 2011 and 2012, were up: The Advantage Fund gained 0.9 percent to be up 11 percent for the year, while the Advantage Plus Fund gained 1.2 percent and is up 15.8 percent. [Reuters]