Monday, 22 September 2014
Last updated 1 hour ago
Feb 5 2010 | 3:57pm ET
It seems everything that John Paulson touches does not turn to gold, even if it is gold.
Paulson & Co.’s new gold hedge fund had a rough first month, dropping 14% in January, Bloomberg News reports. Paulson launched the fund at the beginning of the year to take advantage of a long-term rally in gold that pushed the value of the precious metal up 24% last year.
Paulson himself invested $250 million in the gold fund, which invests both in gold mining and production and bullion-related derivatives. The fund features a hefty $10 million minimum investment, as well as a three-year lockup, so skittish investors will have to live with their buyer’s remorse for some time.
It is not clear how gold’s decline in January affected the $32 billion hedge fund’s other products. Paulson had moved some 10% of the firm’s assets into gold last year.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.