Monday, 15 September 2014
Last updated 3 days ago
Nov 22 2013 | 11:46am ET
For years, and in the face of huge losses, Paulson & Co. founder John Paulson has been arguably the biggest of the gold bugs. Even as his dedicated gold fund, which manages primarily his own capital, posted double-digit declines, the hedge fund billionaire stuck by the precious metal, convinced that a coming period of inflation would reward his faith.
Paulson still isn't giving up on gold—even as his PFR Gold Fund has lost 63% this year after falling a further 1.2% in October. But his faith has been shaken a bit.
Paulson told investors that he won't be putting any more of his own money into the Gold Fund because he is not sure when inflation will begin to rise, Bloomberg News reports. The fund will maintain its positions in gold stocks, but it will let its options on the metal expire, Paulson said at the firm's annual meeting in New York.
Paulson opened his bet on gold in 2009 as a hedge against inflation, which he expected would soar due to central-bank quantitative easing programs. He even created gold-denominated share classes of his other hedge funds. But the precious metal is set to suffer its first losing year in more than a decade, down 26% this year, and the Gold Fund has been the only black mark in what has otherwise been a fabulous year for New York-based Paulson, whose other funds are up by double-digits.
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…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?