dcollon Posted July 11, 2013 Posted July 11, 2013 http://www.forbes.com/sites/nathanvardi/2013/07/10/seth-klarmans-baupost-hedge-fund-loses-more-than-150-million-on-gold-miners/
Yours Truly Posted July 11, 2013 Posted July 11, 2013 It's probably a very miniscule amount considering the entire portfolio's size
G2 Posted July 11, 2013 Posted July 11, 2013 Thanks for the informative article. Are you involved in the junior gold miner space? I've started to think about the construction of a portfolio of 20-25 junior gold miners that one could hold for 3+ years and always find it a useful reference point to see what some of the largest and more respected funds like Baupost and Weiss are targeting.
dcollon Posted July 11, 2013 Author Posted July 11, 2013 G2, I'm not involved with the space, but there is some good discussion in this thread http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/gold-miners/msg111662/#msg111662. I have a ton of respect for Mr. Klarman, but thought I should post the article since I like to read anything I can find about him and Baupost. Yours Truly, you are absolutely right. It's a small position/loss since the author stated that Baupost's aum is $28 bil (not sure if that is still right or not).
twacowfca Posted July 13, 2013 Posted July 13, 2013 He isn't a gold bug. He has described these as being a hedge, not likely to do well except in inflation. In that event, the payoff is asymmetrical, much more than owning gold itself. :)
cayale Posted July 13, 2013 Posted July 13, 2013 Always possible that he's long miners and short gold, too.
Liberty Posted August 15, 2013 Posted August 15, 2013 http://www.bloomberg.com/news/2013-08-14/paulson-cuts-spdr-gold-stake-53-as-soros-sells-out.html Paulson sold half his GLD, probably causing part of the decline. Could be a contrary indicator, as his timing has been pretty bad since 2009...
bmichaud Posted August 15, 2013 Posted August 15, 2013 Just in time for the gold/silver/miner market to put in a rock solid bottom!! Love it.
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