John Paulson (unrelated to Hank, ex-US Treasury Secretary), US hedge fund manager, shot to fame by capitalizing in spectacular fashion on the credit crisis by, among others, betting against a number of financial institutions. In the process, he raked in some $20 billion.
He more recently developed an affinity for gold and is also launching a gold fund on January 1. However, what came as an eye-opener to me was the extent of Paulson’s existing gold holdings, as highlighted in the table below by Joshua Brown, writer of the The Reformed Broker blog. The fact that some pretty serious countries are included on the list makes the comparison quite remarkable.
Quite extraordinary! Imagine having to undo this position when the time comes.
Source: The Reformed Broker, November 24, 2009.
