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Hedge Fund Billionaire John Paulson Lost $736M In Second Quarter Gold Bloodbath

The second quarter was by no means a time to own gold, and billionaire hedge fund manager John Paulson knows it.  While he cut his major position in the yellow metal by half, selling nearly 12 million shares in the largest gold ETF worth $1.38 billion at the end of the quarter, he lost at least $736 million in his cumulative positions through the three months ending with the month of June.