2011 was a famously rough year for hedge fund king John Paulson, and unfortunately 2012 isn’t working out so hot either.
Late last year he lightened up on financials, while exposing himself further to gold. Well, financials have been on a tear for the first several weeks of the year, while gold has been rather mediocre.
And now… a coup.
This 5-day chart of Randgold is pretty clear cut as to how the stock reacted.
Click to enlarge.
Photo: Yahoo Finance
It’s not a catastrophic hit for Paulson. According to the FT’s Bryce Elder, it probably works out to about a $13 million loss — not pleasant, but not devastating given how big his fund is.
Anyway, here’s a video of Mali’s new military rulers announcing their coup.