The Rumors Were True: Paulson Liquidates A Third Of His GLD Gold Share Class; Buys More Bank Of America And Capital One

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Mon, 11/14/2011 - 19:08 | 1877315 slaughterer
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Whale watching the misled gold dumper


Mon, 11/14/2011 - 19:08 | 1877319 monkeyboy
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But Why?

Mon, 11/14/2011 - 19:13 | 1877332 gmrpeabody
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Why what?

Mon, 11/14/2011 - 19:14 | 1877334 Richard Chesler
Richard Chesler's picture

The Dick Bovine school of trading.


Mon, 11/14/2011 - 20:08 | 1877498 Pladizow
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US Gov to Paulsen: Buy BAC or we'll "revisit" that Abacus/Goldman shit!

Mon, 11/14/2011 - 21:25 | 1877779 LongBalls
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For all we know he could be taking his GLD money and buying real gold.

Mon, 11/14/2011 - 22:03 | 1877868 Ura Bonehead
Ura Bonehead's picture

No.  Can you say margin calls?  When you're a leveraged hedgie you sell what you can, not what you want when the margin clerk comes callin'.  Selling GLD, at least you get to book SOME profits for the qtr.

Tue, 11/15/2011 - 09:47 | 1878782 bernorange
bernorange's picture

My guess: anticipation of Dilution Day

Tue, 11/15/2011 - 00:18 | 1878197 tiger7905
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Some comments by a US trader on gold.

Says paper to physical is now 110 to 1.

Tue, 11/15/2011 - 00:59 | 1878264 The Big Ching-aso
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Shit, does he and Celente take the same hallucinogens?

Mon, 11/14/2011 - 19:08 | 1877318 monkeyboy
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But why?

Mon, 11/14/2011 - 19:10 | 1877323 slaughterer
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Because he can... and BAC represent a better ROI /LOL /sarc

Mon, 11/14/2011 - 19:16 | 1877336 gmrpeabody
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Maybe it's a George Costanza thing..., you know, just do the opposite!

Mon, 11/14/2011 - 19:10 | 1877321 SirIssacNewton
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JP is laughing all the way to the bank....just not the ones he's invested in......

Mon, 11/14/2011 - 19:10 | 1877322 oldman
oldman's picture

do nothing

Mon, 11/14/2011 - 19:11 | 1877325 monopoly
monopoly's picture

BAC and Capitol One. I cannot believe that. This is a really smart guy. He now owns Countrywide and Merrill. Oh my. I think I will stay with my simple thinking and not go there.

Mon, 11/14/2011 - 19:19 | 1877347 JohnG
JohnG's picture

What's in yerrrrr wallet?

Mines filled with 2/3 gold, 1/3 silver (bullion and miners.....) 


Mon, 11/14/2011 - 20:23 | 1877569 monopoly
monopoly's picture

I am right next to you JohnG. And a few miners to sweeten the pot..

Mon, 11/14/2011 - 20:08 | 1877506 LibertyIn2010
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I smell another taxpayer government bailout of the TBTF banks coming soon

Mon, 11/14/2011 - 19:11 | 1877326 YesWeKahn
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Throwing bad money after good?

Tue, 11/29/2011 - 16:05 | 1927047 dizzyfingers
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...isn't it by now bad money after bad?

Mon, 11/14/2011 - 19:12 | 1877329 vegas
vegas's picture

Not sure this was the smartest move I've ever seen. But hey, that's why we have markets. I'm sure he thinks BAC is TBTF so WTF. The Bernank put in all its glory is on display for the world to see. When this turd gets liquidated at 0.02 I think I'll be snickering and wondering again: WTF - why?

Tue, 11/15/2011 - 01:21 | 1878299 Number 156
Number 156's picture

Paulson is TBTF, the taxpayer will essentially be bailing out his positions.


Mon, 11/14/2011 - 19:12 | 1877330 slaughterer
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So, the lesson from this quarter's whale watching: Buy BAC and HFC.    WTF???

Mon, 11/14/2011 - 19:14 | 1877333 ItsDanger
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Looks like a classic case of doubling down. Sell the winners and pile onto the losers.  This will end badly for them. Redeem everything now.  


Mon, 11/14/2011 - 19:55 | 1877460 Steaming_Wookie_Doo
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I believe the correct term would be double-up and throw up. But I suppose anyone who's stayed with Paulson this year will get what's coming to them.

Mon, 11/14/2011 - 19:15 | 1877335 Johnny Yuma
Johnny Yuma's picture

Wow, what a rookie move, averaging his losers. It'd be very interesting to see his entire position statements as this is his long only positions. 

Mon, 11/14/2011 - 19:16 | 1877338 Silverhog
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Is it April 1st?

Mon, 11/14/2011 - 19:17 | 1877340 Darth..Putter
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He was directed to do so by the Empire

Mon, 11/14/2011 - 19:18 | 1877343 jcaz
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How Corzine-like.....

Mon, 11/14/2011 - 19:19 | 1877345 The Deleuzian
The Deleuzian's picture

Paper gold...Who cares!!

Mon, 11/14/2011 - 19:22 | 1877348 bank guy in Brussels
bank guy in Brussels's picture

Capital One ... astonishing to me they have that quite insidiously double-meaning advertising slogan:

'What's in YOUR Wallet?'

Always suggested to me that the bank wanted to TAKE what was in your wallet.

Commercials seen in the UK as well as the US, whole bunch of them on YouTube. One of them even with pirates, Bluebeard-style, 'Aaargh, what's in your wallet?'

Fits some banks well.

Mon, 11/14/2011 - 19:22 | 1877349 jmcadg
jmcadg's picture

Transfer from one tool to another by another. Paulson is no god, he's just another fuckshite.

Would have been better changing GLD in Cobra!

Mon, 11/14/2011 - 19:23 | 1877350 DosZap
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No one as smart as he is, does this without a backstop.No one.

Mon, 11/14/2011 - 19:38 | 1877395 A Man without Q...
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Maybe the backstop is they promise not to bring charges against him for the ABACUS deal?  


Mon, 11/14/2011 - 22:43 | 1877955 CPL
CPL's picture

Maybe he just bought some of the real deal.  Doesn't make sense holding a piece of paper that can't deliver and he knows it.


Fuck paper

Fuck equities

Fuck bonds

Fuck tbills.


Expensive wallpaper, gold however makes an expensive paper weight.

Mon, 11/14/2011 - 19:26 | 1877354 css1971
css1971's picture

Has he looked at the 30 year chart of BAC? It hit a wall in 08 at high speed and is just bouncing down the road to zero. "It's dead Jim." The FED keeping it alive?

I know. Contrarian. Billions etc.

Mon, 11/14/2011 - 19:31 | 1877365 chump666
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Trade war about to go hot on Obama "China gaming the system".  USD bid, stocks down and Paulson should not underestimate China's liquidity issues. China goes, should take out the idea of a QE3 stock bull run.

Obama "gaming" quote

ZH, check wires Brazil is also tag teaming with US on a China trade war beatdown.  Tasty.

Mon, 11/14/2011 - 19:30 | 1877368 eddiebe
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One for the banksters and the ink jets

Mon, 11/14/2011 - 19:31 | 1877371 Missiondweller
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I just don't see how BAC survives in its present form.


I'd love to hear how much their deposits have decreased in the last 60 days.

Mon, 11/14/2011 - 22:45 | 1877963 CPL
CPL's picture

Too bad earnings aren't due.  Should be able to ferret out something from that unless they start double counting accounts.


Would not surprise me in the least if they did.

Mon, 11/14/2011 - 19:31 | 1877374 eddiebe
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Paulson sez: If you can't beat them join them.

Mon, 11/14/2011 - 19:31 | 1877375 Seasmoke
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selling the winners to make up for the losers........eventually leads to the walls are closing in on paulson

Mon, 11/14/2011 - 20:37 | 1877619 SHEEPFUKKER

How about selling your losers and doubling up on your winners? 

Mon, 11/14/2011 - 22:46 | 1877967 CPL
CPL's picture

Hey don't say that...far too much sense.  Paulson might read it and then things start moving again.

Mon, 11/14/2011 - 19:32 | 1877377 Steroid
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How to make a millionaire ...from a billionaire!

Mon, 11/14/2011 - 19:33 | 1877381 GtownSLV
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Reeks of desperation!

Mon, 11/14/2011 - 19:36 | 1877391 DaBernank
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I'm reminded of the Mr. Show sketch, "more money means better" -- So, because he's a billionaire, Paulson's better than you!

But seriously, paper gold is better than the paper nothingness of BAC... He's gone full retard.

Mon, 11/14/2011 - 19:36 | 1877393 Long-John-Silver
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BWAhahahahahahahahaha! AaaaRrrrrgggggg mates! He's made a fools move, prepare to cut down his rigging and board that bastard.

Mon, 11/14/2011 - 22:47 | 1877969 CPL
CPL's picture

Yarrr, it's drivin me nuts!


Best.  Punchline.  Ever.

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