Sun, Aug 2, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

John Paulson is sticking with gold

Thursday, April 25, 2013

From Komfie Manalo, Opalesque Asia – Beaten black and blue and losing close to $1bn over gold’s sell off the past weeks, John Paulson, the billionaire hedge fund guru told investors he would stick with gold, confident that the yellow metal will bounce back, various media reported.

In a gathering with investors late Wednesday, Paulson assured the crowd that the price of the yellow metal would go up again and that gold will once again be a powerful hedge against inflation, Reuters said.

A separate report by CNBC quoted Paulson as telling his investors during the hour-long gathering that he still expects the short-term volatility in gold to continue.

Paulson’s gold fund was down 28% in the first quarter of 2013 and further lost nearly $1bn. According to a report by Investment Week, Paulson’s gold fund lost some $973m due to the gold sell off, and brought his personal year-to-date losses to $1.52bn.

But the yellow metal made a comeback Monday after prices went above $1,400 per troy ounce after taking a massive beating over the past week, said CNN. However, the gold prices are ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Despite bumpy June/July, CTAs hold on[more]

    Bailey McCann, Opalesque New York: To say that things have been rocky in managed futures recently is putting it mildly. In June, the industry saw its worst month on a performance basis in the past four years. Then yesterday,

  2. Investing - Hedge fund billionaires bet on London as revival gathers pace[more]

    From Bloomberg.com: London’s fund industry is bouncing back, and U.S. billionaires Steven A. Cohen and Ken Griffin are grabbing a piece of the action. Griffin’s Citadel and Millennium Management, a hedge fund run by Israel Englander, have bulked up in London, where asset growth is outpacing the U.S.

  3. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  4. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

  5. Cargill’s Black River Asset to shut down four hedge funds[more]

    Komfie Manalo, Opalesque Asia: Cargill Inc.’s $7.4 billion Black River Asset Management said it was closing four hedge funds with a combined $ 1 billion in assets and start returning investors money over the next several months, various media said. The hedge funds represent 15% of Black River’

 

banner