Discussion in 'Metal Futures' started by rsi80, Apr 14, 2013.
The question is: what is John Paulson's uncle point?
How much gold is he carrying and from what price level?
Correct answer is "the bottom"
Is he still in NG (nova gold mining company) I believe it's called? That stock just keeps tanking like no tomorrow.
Edit: Found this "In a portfolio that features a number of gold and gold related companies, John Paulson's largest position is 35,970518 shares of Novagold Resources ( NG)
Read more: http://www.nasdaq.com/article/john-paulsons-gold-fund-the-midas-touch-cm229988#ixzz2QTKfPoEI"
keep hitting it until her receives a margin call that he can't meet.
what a stupid poll.
IB had shares of NG as unshortable the past couple trading days. Wonder what JOhn's basis is in NG.
looks like one of his latest purchases was ..."1 million shares at a price of $7.17, 500,000 shares at a price of $7.01 and 586,500 shares at a price of $6.82.
now its around 2.50 -3 bucks. ouch.
I bought some miners a couple weeks ago that haven't seen the light of day. Hopefully in 5 yrs-decade they are much higher. I should buy some NG as he unloads, maybe he is the one unloading lately?
As far as physical goes, I'm sure the Chinese and Russians are happy to buy at these prices while whoever else is selling.I heard the Japanese where lining up to sell their physical the past week or so . That makes no sense to me given their monetary policy????
"Japanese rush to sell gold"
Markets will remain irrational longer than one can stay solvent . Technically, nothing says gold couldn't see 1300 again soon.
It's just a paper loss.
1) For Paulson, that's "chump change".
2) For the rest of us, it's all the money in the world. :eek:
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