March 7, 2013
Gold Bugs Paulson Fund (GREGORY ZUCKERMAN And JULIET CHUNG, 3/07/13, WSJ)
Posted by Orrin Judd at March 7, 2013 9:36 PM
Gold prices are falling fast. But John Paulson's gold investments are dropping even faster.Behind the problems: a derivative bet on gold that has gone awry, according to someone close to the matter.Mr. Paulson, who runs the $19 billion hedge-fund firm Paulson & Co., told his investors in a letter dated March 6 that his gold hedge fund is down nearly 26% so far this year, after tumbling almost 18% in February.