Paulson’s luster lust

New York Post

Double down!

Hedge fund biggie John Paulson, the world’s foremost gold bug, added to his precious metal hoard during the second quarter.

Gold now accounts for 44 percent of his entire stock portfolio. The biggest increase was the additional 4.5 million shares of SPDR Gold Trust, a gold exchange-traded fund. The firm reported a $3 billion decline in the value of its stock portfolio, to $12 billion for June 30, down from $15 billion on March 31, in the quarterly statements with the Securities and Exchange Commission that were filed yesterday. SPDR Gold now accounts for $3.39 billion of Paulson’s entire portfolio, or 28 percent. The exchange-traded fund lost about 4 percent during the quarter.

Paulson also invests heavily in the shares of gold-mining companies, and when those are added to SPDR Gold, his total gold stake comes to $5.2 billion, or 44 percent of the total. Some of the biggest funds, which hold huge gold positions, have continued to lose money this year, to the chagrin of his investors.


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