Hartford Financial Services Group Inc. warrants climbed to twice the price they sold for in a U.S. Treasury Department auction three years ago, benefiting investors such as Bruce Berkowitz and John Paulson.
Gold analysts are bearish for a second week as prices head for the biggest monthly drop since June and approach this year’s low on speculation the Federal Reserve will curb stimulus as the economy strengthens.
Every business day in London, five banks meet to set the price of gold in a ritual that dates back to 1919. Now, dealers and economists say knowledge gleaned on those calls could give some traders an unfair advantage when buying and selling the precious metal.
Billionaire hedge-fund manager John Paulson told clients he wouldn’t personally invest more money in his gold fund because its not clear when inflation will accelerate, according to a person familiar with the matter.
Liam McGee, who led a rebound at Hartford Financial Services Group Inc. after shunning John Paulson’s call to split the insurer, said executives shouldn’t be defensive when handling activist investors.