Friday, 22 August 2014
Last updated 3 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…