- But since then, a large position in gold has produced lackluster returns for the investor.
- Gold is now surging amid the coronavirus outbreak, trading at its highest level in seven years. Here's how much John Paulson has invested in gold and gold-related companies, and the rest of his 10 biggest investments.
- Visit Business Insider's homepage for more stories .
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John Paulson predicted the financial crisis and specializes in meltdown-proof portfolios. Here are his top 10 bets right now, as coronavirus hits markets.
John Paulson bet against subprime mortgages, an investment that paid of hugely during the financial crisis.
John Paulson
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John Paulson, the billionaire investor who made a fortune and name for himself by betting against subprime mortgages ahead of the recession, has had a difficult few years. His hedge fund made steep losses in 2015 and 2016, and by last year he was beginning to mull shuttering his hedge fund to outside investors altogether.
Among investments dragging Paulson down in recent years were bullish bets on gold which, during the longest stock market bull-run on record, trailed the S&P 500 by a longshot.
But in the last two days, that trend has reversed. Gold is at a seven-year high, trading up 8.1% on the year. Meanwhile the S&P is down 3.2% on the year after fears about a global spread of coronavirus, the illness first diagnosed in Wuhan, China, that has infected around 81,000 people since, sparked a selloff in US equities that erased gains for the year.
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It could be an opportunity to Paulson, who's proven his ability to make money amid meltdown, and for his long-suffering investment portfolio. Packed with gold stocks and pharmaceutical names, which have fared better than the overall S&P during the rout, here are Paulson's top 10 biggest investments, according to the most recently quarterly filing compiled on GuruFocus .
10. BrightSphere Investment Group
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Ticker: BSIG
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Industry: Asset management
Weighting: 4.41%
Value of investment: $204.4 million
9. Mylan
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Reuters
Ticker: MYL
Industry: Drug manufacturer
Weighting: 5.21%
Value of investment: $241.3 million
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8. ViacomCBS
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Reuters
Ticker: VIAC
Industry: Media
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Weighting: 5.44%
Value of investment: $251.8 million
7. Takeda Pharmaceutical
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Reuters
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Ticker: TAK
Industry: Drug manufacturer
Weighting: 5.64%
Value of investment: $261.3 million
6. Anglogold Ashanti Ltd.
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Ticker: AU
Industry: Metals & mining
Weighting: 6.16%
Value of investment: $285.6 million
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5. Horizon Therapeutics
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Abid Katib/Getty Images
Ticker: HZNP
Industry: Drug manufacturers
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Weighting: 6.38%
Value of investment: $295.8 million
4. Discovery
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The Discovery Channel
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Ticker: DISCK
Industry: Media
Weighting: 7.19%
Value of investment: $333 million
3. Allergan
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Reuters
Ticker: AGN
Industry: Drug manufacturer
Weighting: 10.99%
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Value of investment: $509 million
2. SPDR Gold Trust
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Michael Dalder/Reuters
Ticker: GLD
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Industry: Precious metals
Weighting: 13.33%
Value of investment: $617.3 million
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AP/Jeff Miller
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Ticker: BHC
Industry: Drug manufacturer
Weighting: 13.46%
Value of investment: $623.5 million
See Also:
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- Goldman Sachs reveals the 10 best stocks to buy now for a market comeback from the coronavirus-driven plunge
- GOLDMAN SACHS: Buy these 12 stocks to keep crushing the market as profit margins shrink
- Avoid these 11 stocks being dumped by mega-investors. RBC says they're doomed years for underperformance.
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