Thursday, 3 September 2015
Last updated 7 hours ago
Apr 18 2013 | 1:44pm ET
Friday and Monday's historic gold rout hasn't just burned John Paulson personally—investors in the gold bug's hedge funds are suffering as well.
Paulson lost about $1 billion on gold's worst two-day drop in 30 years. And Paulson & Co.'s flagship hedge fund is down 2.4% this month, thanks in no small part to gold's precipitous drop.
The Advantage Fund had just returned to positive territory last month with a 5.6% jump. The fund is now up just 1.3% on the year.
Things are likely even grimmer for Paulson's dedicated Gold Fund. That vehicle was down 27.9% through March, prior to gold's big drop last week and this.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…