John Paulson’s personal investment makes up almost 75% of his new gold fund.
The billionaire hedge fund manager who called the real estate bubble and made $15 billion in one year started a hedge fund dedicated solely to gold in January.
In its first month, January, it tumbled 14%.
But he won’t have to answer to many upset investors.
The Wall Street Journal is reporting that Paulson has only raised $90 million for it so far. He’s put in $250 million of his own.
Of course it took a while for Paulson to convince investors that he was right about the housing market, too.