A Fool and His Gold…
On the stable investment you can put in your pocket in case of apocalypse:
Hedge fund billionaire John Paulson is one of the biggest losers in this year’s gold rout, with his gold fund of under $1 billion losing 27 percent in April alone, according to performance figures provided by a source familiar with the fund.
The jarring one-month decline in the Paulson gold fund, brings the year-to-date loss for the fund to about 47 percent, the person familiar with the fund said.
The April selloff in gold was particularly fierce and came as a surprise to many hedge fund managers who were long either gold bullion or the SPDR Gold Trust, the most popular gold exchange-traded fund.
Once again, the smartest guys in the room are surprised by what any old schmo could have told them.