Hedge Fund Manager Who Made Billions on Real Estate Collapse Now Betting on Gold
November 23rd, 2009Via: Telegraph:
Hedge fund manager John Paulson plans to invest as much as $250m (£149m) of his $6bn personal fortune in a new gold fund he is in the process of establishing.
Mr Paulson, best known for making $3.7bn from bets on the collapse of the US sub-prime mortgage market, is believed to have told investors that the new fund, to be run by Paulson & Co, will invest not just in gold miners but also in other investments related to the precious metal.
Although not Paulson & Co’s first foray into gold, given approximately 10pc of the $30bn it has under management is in gold-related investments, it would be the firm’s first pure-play gold fund.
No fund-raising cap is thought to have been set at the moment, but Mr Paulson’s personal commitment is considerable and is likely to be seen as a highly attractive draw by investors.
I don’t why, but I am laughing my ass off reading this article.
I dunno maybe I should be crying. Assholes like this Paulson dude, could possibly be related to Hank, thereby being tied genetically to another asshole who screwed all and sunder by his “bailout strategy” that somehow, does not have his name attached to what he did by bailing out all and sunder in the last two months of the Bush administration.
Whereby, similar assholes like Tim Geithner and all dudes and dudedesses that might even look like Hank Paulsen are being tested for preliminary internet hangings by the slow witted folk who finally are “getting it” re the last two months of the Going AWAY Party where you Brought Your Own Wish List List to the Party of the outgoing Bush Administration.
You might laugh at what I just wrote. But I’ve seen the party as we go out of office stuff going on before. I’ve seen pretty low level stuff, like a high level Fed traveling all around the US before they retire.
That’s poop on the floor of a chicken coop compared to the party Bush and his gang staged.
Holy crap!
I know I am equating the Paulson in the article with Hank Paulsen but I say cut this guy off now.
Betting on collapse?
What is wrong here? I think the very idea that there are markets that reward people who gamble on the probability of FAILURE!
That’s not an INVESTMENT strategy.
That’s gambling.
And PEOPLE ARE STUPID to give their money to an “investment manager” who BETS ON COLLAPSE.
Bite me MR. Paulson, and Senior Hank Paulsen, oh ye former US Treasury Secretary, wherever you are in China licking boots over there, you can kiss my ass too.
Betting on failure. The lot of you should be disbarred from investments. Sent off to another planet. No I take that back. We’ll deal with you here. That’s what your here for now anyways. Facing the ramifications of your decisions.
Bet on this collapse.