Paulson touts merger, credit returns as gold bet turns sour

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Paulson's bet on gold goes south

Paulson & Co, the $18 billion hedge fund that has lost nearly half its assets since 2010, has made money investing in mergers and restructurings in the first quarter of this year, even as its investments in gold suffered whopping losses.
 
Speaking at the Salt Conference in Las Vegas, Paulson & Co founder John Paulson emphasised his roots as an event driven investor who seeks to profit from mergers, restructurings and other corporate catalysts, according to delegates who were present at the sessio