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    gold investing

    Jana Partners Follows Paulson, Buys Gold

    Investing News Network
    Feb. 14, 2011 09:27AM PST
    Precious Metals

    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.

    Click here to access the entire market news.

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