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Midas Beckons: John Paulson Goes for the Gold

Hedge fund manager John Paulson has recently put billions of dollars into gold.

John Paulson, king of the subprime short, has become a goldbug. His metamorphosis can be traced to the first quarter of this year, when the New York–based hedge fund manager moved roughly 44 percent of the $9 billion in U.S. equities he had held in Paulson & Co. into exchange-traded

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