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IBDvalueinvestin (99.67)

Gold and other miners getting crushed today..

Recs

3

November 20, 2009 – Comments (1) | RELATED TICKERS: RTP.DL , AU , PKX

List :

ABX -0.84

AEM -1.73

AU -0.83

RTP -4.89

BHP -1.45

FCX -1.12

pkx -1.02

GOLD -1.65

GG -0.80

 

 

1 Comments – Post Your Own

#1) On November 20, 2009 at 10:50 AM, IBDvalueinvestin (99.67) wrote:

Gold & other metal miners crashing for 2nd straight day after its made known that Billionaire John Paulson is buying gold? So that means more people betting against Billionaires like Paulson & Buffett

NEW YORK (CNNMoney.com) -- Billionaire John Paulson, who earned his hedge fund billions when he bet against the housing bubble, is waging a new noteworthy bet.

Paulson is investing as much as $250 million in a new gold fund next year.

His hedge fund, Paulson & Co., will launch the fund Jan. 1, 2010 and will buy shares of gold miners and make other investments related to the precious yellow metal, a source familiar with the firm's plans told CNNMoney.com. Paulson discussed the fund at a meeting with investors on Tuesday.

It will aim to outshine record-breaking gold prices, which have been hitting all-time highs recently as the dollar has weakened, fueling inflation fears.

Although the minimum investment for the gold fund in unknown, hedge funds usually require a minimum $1 million investment to get into the fund. Most of Paulson & Co. funds are focused on institutional investors.

 

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