“The tumbling gold price has personally cost billionaire hedge fund manager John Paulson at least $1.5 billion so far this year, as a decline in the price of the metal turned into a rout.
The estimated losses for Mr. Paulson, who has made and lost more money on gold than almost any other hedge fund manager, reflect a bold all-in bet on the precious metal
While many investors hold some gold in case of financial calamity or a return of the rampant inflation of the 1970s, since 2009 Mr. Paulson has allowed clients of Paulson & Co to denominate their holdings in gold, rather than US dollars….”
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