–
John Paulson’s fund, Paulson & Company, is down along with stocks in July. Paulson Partners saw a 1.3% loss brought about by the tepid performance in healthcare and telecom holdings. There is concern that as interest rates rise, stocks will fall, and that may be one reason behind the decline. Its Credit Opportunities Fund fell 1.4% on losses in convertible bonds and post-reorganization equities. His event-driven Advantage fund and Recovery fund are also seeing lackluster year. The Advantage Plus fund speculates on reorganization, spin-offs and bankruptcies.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
Paulson is moving into mining, with an 18% stake in NovaCopper; the stock was up over 6% on Monday. The company has mining projects in Alaska, and it has dramatically cut expenses from $2.2 million last year to $448, 000. The company reported a loss of $0.04 per share, which was less than last year’s loss in the same quarter of $0.11 per share. NovaCopper completed a $7.5 million private placement financing. Shareholders acquired the private placement offering for $1.15 per unit.