Paulson Battered In August

For years, everything John Paulson touched turned to gold. This year, the only gold he’s touching is, well, gold.

New York-based Paulson & Co.’s largest hedge fund, Advantage Plus, continued its losing ways in 2010 last month, shedding 4.26%. The $9 billion fund is down 11% through August. The less-levered Advantage fund shed 2.8% and is down 7.5% on the year.