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The Street reports that Hedge fund firm Jana Partners took a page out of billionaire investor John Paulson’s playbook by making a $122 million bet on gold in the fourth quarter.
The Street reports that Hedge fund firm Jana Partners took a page out of billionaire investor John Paulson’s playbook by making a $122 million bet on gold in the fourth quarter.
The market news is quoted as saying:
New York-based Jana Partners bought 881,844 shares of the SPDR Gold Trust (NYSE:GLD) exchange traded fund, making it the fund’s third-largest holding by value. Jana Partners joins other hedge funds that have made a bet on precious metals, including John Paulson, whose Paulson & Co. hedge fund focused on gold last year after correctly betting on the housing decline in 2008. Paulson himself earned $5 billion last year.
