The Scale of Paulson’s Gold Purchases
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December 7th, 2009 by Prieur du Plessis, Investment Postcards from Cape Town
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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.
Dr. Prieur du Plessis is an investment professional with 26 years' experience in investment research and portfolio management. More than 1,200 of his articles on investment-related topics have been published in various regular newspaper, journal and Internet columns, including his blog, Investment Postcards from Cape Town. He has also published a book, Financial Basics: Investment. Prieur is Chairman and principal shareholder of South African-based Plexus Asset Management, which he founded in 1995. The group conducts investment management, investment consulting, private equity and real estate activities in South Africa and a number of foreign countries. He also serves as Honorary Consul of Slovenia for South Africa, actively developing economic, cultural and scientific relations between Slovenia and South Africa. Prieur is 54 years old and live with his wife, television producer and presenter Isabel Verwey, and two children in Cape Town, South Africa. His leisure activities include long-distance running, traveling, reading, motor-cycling and scripophily. Read more from the author/contributor here.
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