Gold Hits Paulson Flagship

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.

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