Any chance Paulson may be accumulating ECU...
Nice pay off - VHF
-
Paulson Profits On New Gold Investment
FINalternatives
December 4, 2009
.
John Paulson’s faith in gold is paying off in a big way, and fast. His Paulson & Co. may have turned a C$47.9 million (US$45.3 million) profit on just a single investment in the precious metal. And in less than five weeks.
The $30 billion New York-based hedge fund amassed 10.3 million shares of Detour Gold Corp. The Toronto-based gold exploration and development concern has seen its share price soar 35% since Oct. 31, when Paulson reported its stake in the company.
Paulson has moved some 10% of his firm’s assets into gold and gold-related investments this year. The firm is also preparing to launch a dedicated gold hedge fund on New Year’s Day.
