John Paulson has been getting crushed this year.
The Wall Street Journal has an update on his losses this month and he’s now down 15% in his Advantage fund.
A week or so ago, Paulson’s fund was down 13% in June. Today’s news that he’s down 15% means his YTD losses went from -19.65% to -20.9%.
Apparently some of the losses come from gold mining stocks. The WSJ says:
AngloGold Ashanti Ltd. is down 7% so far this month. Share prices of two other significant mining investments for Paulson, Gold Fields and Centerra Gold, have slipped 11.6% and 10.5% so far in June, respectively.
Some people are pointing to his size, which is huge, but that’s a non starter. Bridgewater is even bigger and it’s up 11% this year. We don’t know how you’re doing it, Ray Dalio, but you go.
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