John Paulson, who runs the Paulson & Co hedge fund, acquired 9.2 million shares of Exxon Mobil (NYSE:XOM) in the 2nd quarter, a new position for the fund.
After being extremely bullish for some time concerning the U.S. economy, Paulson told his investors at the end of the latest quarter the he is modestly less bullish than he has been in the recent past. Still, he believes it's going to rebound.
But continuing to hold strong positions in gold miners, and now investing big in Exxon Mobil, confirms he is definitely not as positive as he has been, and in fact could be expecting a slowdown in the U.S. economy, which is in reality already here, if it ever left in the first place.
Oil investments helped a number of investors and companies do far better than they otherwise would have during the harsher parts of the recession, and buying large stakes like Paulson has in the sector, shows he has real concerns going forward.
Even so, other actions like adding to his holdings in Beazer Homes USA (NYSE:BZH) seems to be schizophrenic with the Exxon strategy, so we'll see how that plays out for him in a week home market.
Paulson also added 1 million shares of Goldman Sachs to the portfolio in the second quarter (NYSE:GS).
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