New Threads Only:  Add to Google Reader or Homepage
New Threads & Replies:  Add to Google Reader or Homepage
Forums are for serious investors only. GuruFocus Forum Rules.

Forum List » Guru News and Commentaries
Guru News, Stock picks and commentaries
New Topic Search
Goto Thread: PreviousNext
Goto: Forum ListMessage ListNew TopicSearchLog In
John Paulson on Pace for Another Losing Year
Posted by: matsandalex (IP Logged)
Date: December 4, 2012 08:41AM

Investors in John Paulson's firm are getting impatient as the fund is down for a second year in a row. Last year the fund was down 53%. This year the fund is down 19% as Paulson's main fund is down 13%. Paulson will struggle to meet his high water mark as the S&P is up 14%.

Paulson has been stung by the mine unrest at AngloGold (AU) in South Africa. His positions in gold bullion have been relatively flat.

Paulson has been bullish on gold over the last few years.

“I view gold as currency, I was not interested in it as currency until quantitative easing,” said Paulson in 2010. Paulson also explained why any talk of gold being a bubble is preposterous right now. Paulson’s key point is that gold ownership is incredibly low.

For example, it is estimated that pension fund holdings of gold are between 0.15% and 0.5%. In the past, pension fund holdings were close to 5%. In other words, how can gold be a bubble if it is such a small percentage of the financial asset landscape?



Guru Discussed: John Paulson: Current Portfolio, Stock Picks
Stocks Discussed: AU,
Rate this post:

Rating: 2.3/5 (3 votes)





Sorry, only registered users may post in this forum.

Please Login if you have an account or Create a Free Account if you don't
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Email Hide