Paulson holds steady in gold bets; adds big stakes in Verizon, CBS


John Paulson maintained his place as the biggest shareholder in the SPDR Gold Trust ETF (GLD) as of the end of Q1, keeping his 10.2M-share stake valued at nearly $1.3B while tinkering around the edges of some single-company bets in the mining sector.

Paulson cut his stake in Freeport McMoRan (FCX) by a third and in AngloGold Ashanti (AU) by ~10%, while holding steady on positions in Agnico Eagle Mines (AEM), Allied Nevada (ANV), Gold Fields (GFI), Iamgold (IAG) and Randgold Resources (GOLD).

His biggest new positions came in Verizon (VZ), buying ~8.75M shares worth $415.9M, and CBS, acquiring a ~4.47M-share stake worth $276.6M; he more than doubled holdings in (GM, $138M) and Cobalt Energy (CIE, $499M) while cutting his stake in Hess (HES) by 62%.

From other sites
Comments (12)
  • joeprincio
    , contributor
    Comment (1) | Send Message
     
    Paulson ? Really? You think anyone gives a hoot what this senile little idiot invests in? He got one bet right, and only because he was guided by criminals on Wall Street.
    15 May 2014, 07:17 PM Reply Like
  • David at Imperial Beach
    , contributor
    Comments (4382) | Send Message
     
    What has John Paulson done to deserve your disapprobation? In 2007 he bet against the U.S. subprime mortgage lending market. It didn't take insider information from Wall Street to detect that subprime mortgage derivatives might be unusually dangerous with banking lending standards essentially set to zero income and zero assets and zero credit history. Somehow I think you underestimate someone with a personal net worth of $13.5 billion.
    15 May 2014, 07:39 PM Reply Like
  • user92718
    , contributor
    Comments (166) | Send Message
     
    jeprincio,
    congrats on ur first comment!
    15 May 2014, 08:19 PM Reply Like
  • capitolp
    , contributor
    Comments (713) | Send Message
     
    @DaIB, I thought he was a pretty tough bird hanging onto his gold position but now with his GM purchase, I think he might just be a sucker for punishment.
    15 May 2014, 08:47 PM Reply Like
  • Rainmon
    , contributor
    Comments (179) | Send Message
     
    he must have done something right if John Paulson is the biggest shareholder in the SPDR Gold Trust ETF...
    15 May 2014, 08:48 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (6924) | Send Message
     
    Don't mix John Paulson with Henry Paulson, the former CEO of (GS).
    16 May 2014, 08:36 PM Reply Like
  • miklx
    , contributor
    Comments (2) | Send Message
     
    buffet took a big bite too, another senile idiot?.
    15 May 2014, 09:11 PM Reply Like
  • Budavar
    , contributor
    Comments (1404) | Send Message
     
    He sold part of his position!
    15 May 2014, 11:43 PM Reply Like
  • locutus49
    , contributor
    Comments (1057) | Send Message
     
    He did? News to me.
    16 May 2014, 11:04 AM Reply Like
  • Budavar
    , contributor
    Comments (1404) | Send Message
     
    Paulson
    Is a son
    Of a gun:

     

    Got disapproval
    With that GM approval: -
    A crooked cracked oval?
    15 May 2014, 11:52 PM Reply Like
  • Ghost Hawk
    , contributor
    Comments (11) | Send Message
     
    joenpricio,
    Take a look at the performance of his recovery fund. With all my respect, I believe you should think twice before writing such nonsense. Guess you have read Michael Lewis' book "the big short", totally disagree with your interpretation "guided by criminals of Wall Street"
    16 May 2014, 07:26 AM Reply Like
  • Michael Bryant
    , contributor
    Comments (6924) | Send Message
     
    (VZ) sounds like a good bet as an income-producing stock. Sounds like Paulson thinks copper and the economy will hit a speed bump. I heard companies like (DE), (MCD), and (PEP) are being hurt by the sanctions.
    16 May 2014, 08:41 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs