John Paulson Hates Money
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John Paulson's Paulson & Co. was dumping gold heading into 2015, right before the massive rally. Such is Paulson's luck of late. Paulson has been a gold bug for years now.
Paulson had over 5% of his portfolio in the GLD heading into the fourth quarter but sold off close to 40% of that position before 2016. Poor timing.
Other picks of Paulson heading into 2016 include adding 50% to his Valeant Pharma (VRX) bet - now no. 3 largest holding. Allergan (AGN) remains his biggest bet - owning 1.4% of the company. AGN is down 9% YTD. Other top 5 picks by Paulson include Shire (SHPG), Teva (TEVA) and Mylan (MYL) - all down over 15% YTD.