the irony is that paulson has been right about gold.rom april 2009 when he first put his trade on to now, the yellow metal is up more than 70%. but paulson has never dealt with physical gold as part of his trade. he's focused instead on mining and production stocks primarily and that's where the pain has been. looking at a basket of six key holdings, they're down an average of 32% since he bought them. the only one in the black is rand gold resources, up 1% since he bought it early in 2010. that's when the dedicated gold fund first launched. i'm told paulson, who has $18 billion under management in total now, has no intention of closing down the gold fund, which itself holds roughly 900 million at the moment. he has a multiyear thesis that benefits from inflation and wants to see it play out. he's now presenting it to investors. this is interesting, as a bit of a tail risk fund, a black swan option if inflation gets wild and you need a kind of fear trade. >> probably the question that somebody is thinking or would want to ask you is why

paulson, welcome. good to have you with us. >> thanks, tyler. >> you have a pretty aggressive target this year for the s&p 500. what is it and why are you so confident? >> yeah, i've been since year ends think we could go up and touch 1700 some time this year for the s&p 500. tonight maybe we're about halfway to that target price. it certainly won't be a straight line. i fully anticipate we'll have some correction along the way here at some point. but i still think we're maybe only halfway to where we're going to go this year. i think the biggest driving catalyst, tyler, this year has been the fact that growth, economic growth keeps coming in far faster than most people anticipated at the end of the year. most people participate about 2% growth this year. i think we're coming in closer to 3. and as that becomes more obvious, confidence goes up, and that goes right into higher valuations for stock prices. >> jim, you were telling me earlier today that investors shouldn't worry about this correction. why

for pennies on the dollar because we've crashed the economy he told me in no uncertain terms john paulson has run manager pop and grayle lloyd blankfein of goldman sachs admittedly cooked the books in greece to crash that economy they made bets against the economy ensuring that it would crash now the private equity vultures are there to pick up the assets for pennies on the dollar it was a leveraged buyout of a country the greek people are now lost or sovereignty and they're now essentially debt slaves to hank paulson his buddies and these private equity firms that are now picking up the pieces for pennies on the dollar again typical mobster behavior totally condoned by the i.m.f. e.c.b. and these other global organizations. unbelievable and max i can't have the max kaiser in the studio without talking scandal i mean you just said as this article talk about the latest person and located and this phone hacking scandal and london oh this is great because tina waiver who was a former editor of the sunday mirror told me in two thousand and three that she and piers morgan were using phone hack

assistance, paulson called the then-c.e.o. bob williamson. calls him on the phone and says we're going to give you one opportunity, the only one, you're going to get $85 billion, we'll lend you $85 billion at 14.5% interest everybody getting access to the fed window is down 1.5% to 2%. and we're going to take 79.9% of the equity. then he said incidentally, you're fired. so sign the agreement. he said no, you've just fired me why would i sign the agreement? so he sends in ed liddy. ed liddy is on the goldman board he signs the agreement and resigns from the goldman board three days later of the $85 billion, $65 billion goes out the back door. $14 of it goes to goldman sachs. >> rose: the reason i am telling this story is because it is at the heart of the suit you have filed on behalf of stockholders. the notion that there was a deal made that the bailout deed was not in the interest of the shareholders of a.i.g. that's the essential argument you're making. >> yes, it was the takings, we have the constitution that says you can't -- government c

and john paulson might be hitting the road, too.oid a massive tax bill at the same time. ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ from td ameritrade. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest citie

meteorologist steve paulson says there's still a possibility of showers this afternoon in the bay area. he will be here later with more on what it headed our way. >>> we want more on the breaking news of a fatal accident in davis. here is some home video shot from a cell phone that you can see, a big rig in flames. this is on interstate 80 near davis and both directions of the road are closed because of this big rig. it went across the center divide near old davis road and hit cars on both sides of the highway. this video just came in minutes ago from the scene, at least one person is reported dead in the crash. this happened about 10:30. the chp it still saying the westbound lanes of 80 near davis will be closed for several hours. so people trying to come from the tahoe, sacramento area toward the bay area cannot get through on 80 but the eastbound lanes for folks heading toward sacramento, they could open as soon as 12:30. and we will obviously keep you posted on this. but again, a fatal rig big accident on old davis road in davis and the highway is still closed in both directions ri

meteorologist steve paulson says there's still a possibility of showers this afternoon in the bay area. he will be here later with more on what it headed our way. >>> we want more on the breaking news of a fatal accident in davis. here is some home video shot from a cell phone that you can see, a big rig in flames. this is on interstate 80 near davis and both directions of the road are closed because of this big rig. it went across the center divide near old davis road and hit cars on both sides of the highway. this video just came in minutes ago from the scene, at least one person is reported dead in the crash. this happened about 10:30. the chp it still saying the westbound lanes of 80 near davis will be closed for several hours. so people trying to come from the tahoe, sacramento area toward the bay area cannot get through on 80 but the eastbound lanes for folks heading toward sacramento, they could open as soon as 12:30. and we will obviously keep you posted on this. but again, a fatal rig big accident on old davis road in davis and the highway is still closed in both directions ri

it's a no-go for john paulson's move to puerto rico. rumors of a move popped up when paulson, a billionaire hedge fund manager, was reportedly looking at real estate opportunities on the island. a new law would eliminate taxes on gains from the $9.5 billion he has invested in his own hedge funds. his fund released a statement last friday that indicates he has no plans to permanently relocate. survey says... mark zuckerberg is a top ceo. zuckerberg topped glassdoor.com's list of top ceos of 2013. ceos from sap, mckinsey & company, ernst & young and northwestern mutual rounded out the top five. meanwhile, tim cook slipped from the top spot last year to 18th. employees of the companies vote on their ceo, which means facebook employees really "like" their boss. ceo salaries are under scrutiny as recent filings reveal the earnings of the top brass. according to reports, john stumpf of wells fargo is the highest paid head of a major bank. on the heels of rising profits, his compensation package last year was nearly $23 million. in the automot

treasury secretary henry paulson submitted to congress a bold request, give him nearly a trillion dollarsve it to him now. let him spend it on whatever he wants, no questions asked. >> we need to make that bill quickly and cleanly. >> if they didn't, paulson insisted america could be hit by a second great depression. >> to help the american people is the goal of this plan. >> john: with the stock market tanking paulson got his so-called tarp money. eventually tarp was used in all sorts of ways few had envisioned, including to bail out the auto companies. meantime, barack obama had defeated john mccain in the race to succeed george bush. during the transition, incoming chief of staff rahm emanuel mapped out a governing strategy. >> you never want a serious crisis to go to waste, what i mean by that, an opportunity to do things you could not do before. >> do you remember when rahm emanuel said in 2008 never let a crisis go to waste. >> absolutely. >> john: what do you think? >> cynical. >> at the time he ran a plastics company in wisconsin. >> of course, they didn't let a crisis go to waste

treasury secretary timothy geithner and henry paulson that the collaterally quest did not cause lehman to fall so here he has to spokesman to treasury secretaries on his payroll and they're openly admitting this in court documents is jamie and paulson will begin to take a little a little joy ride. to the g. twenty meeting a. model of the plane with those we're going to take a nice place we want to be like huge oh oh. oh oh you flew out of the blue oh good you know little known so that case is proceeding but i want to look at another headline relating to this forum that is also a cancer that has infected and degraded the global financial system since lehman brothers collapsed in september two thousand and eight investors missing rally because of too big to jail financials so james bianco the president of bianco research was on squawk box europe and he said people are worried that they'll get into the market and see a twenty to thirty percent decline they will lose money and some big players will get bailed out well they don't get any wage increase because the unions and the holders have

that max but i would lay out all of germany's feet because number john paulson and john course are going to blow up on others you know for you know force people you're talking about they're not countries they're individual actors they might be hedge funds they might be wealthy lovelace in a german seat i'm saying that greece was a three in a billion dollar economy which is on a a leveraged buyout basis not a big leveraged buyouts and you had guys predatory come in you know germany was just looking at this from a from a taking a step back but you had guys go in there they trashed a country now they seem to go from there then they went to spain with a worchester looking italy to what degree is europe being destabilized by. credits or leverage guys from wall street the city i think a very great extent this is just a wall street as usual it's been going on for a hundred years you know they fleece individual investors in u.s. markets you know the banks you know fleeced depositors by not paying our normal interest rates and really straightness lease countries by you know you're feeding them al

because they're going to not honor the minimum deposit guarantee scheme look we've seen with hank paulson he told his friends before he worked out a deal through tarp like tim geithner and goldman sachs they profited on inside information and we saw it in greece when papa grayle stole money from the greek people put in his mom's account to suddenly showed up in switzerland how did that get there who now are seeing it with the leadership in cyprus stealing money from people who've seen this story before it's a corrupt elite they're stealing money by either taking interest rates down to zero which is a form of theft you see that is quantitative easing here in the u.k. in america or they're just outright stealing money whether it's jamie diamond in m.f. global out of your account so once again there's a war going on there's two sides there's the corrupt banking banks stirs and then there's people who are trying to hold on to what they have and i think if i'm not mistaken a bomb went off a couple of days ago in cyprus look for more of those types of things happening because this is a bloody w

and crashes easy money and crashes remember hank paulson you know will crash the market give us more q.e. or now ben bernanke is saying will crash the market give us more q.e. or in europe they're saying give us more free money in the u.k. now the u.k. pound on the verge of a blip when you've got this new mark carney coming in this hockey puck shattered brain coming in from canada to run the bank of england saying we're going to stipulate this coming we're going to put lots of money at the same time he's saying we're going to poke poke poke you by declaring that you need to be more ethical in your dealings of course he doesn't want them to be ethical their dealings i want the drug smack of free money to occur through the veins of that corrupt economy into the hands of the city bankers are down there every friday and saturday night getting blitz and exactly that's what the u.k. central bank and the us one are very good at is that continuous attacking to the consumer shop go shopping go shopping george bush of course through it on the rubble of nine eleven world trade center shouting g

did some debt too elaborate to get into the euro and then made bets against greece later then john paulson made bets against greece a hedge fund manager later isn't a financial warfare and shouldn't there be some a way for a country like greece to seek recourse in the case that they've been attacked in this way your thoughts the things back their mobile parties are such just two sides you know the good guys and the bad guys so to speak i'll. i think germany wants to destroy greece germany wants to help greece but they're doing in a very you know a hard way they're yet let me just cut it because you know they're buying these assets for pennies on the dollar race the private equity funds i was there when steve forbes was down there shopping for for assets you know during that when the tear gas was flying in the international chamber of commerce so how much of my question is isn't there a bit of a controlled demolition aspect to the way greece spell i agree with that max but i would lay out all of germany's feet because remember john paulson john course when he bought bonds others you know fo

. >>> coming up, john paulson may be thinking about trading in his manhattan dogs and the future.ap technology. arrival. with hertz gold plus rewards, you skip the counters, the lines, and the paperwork. zap. it's our fastest and easiest way to get you into your car. it's just another way you'll be traveling at the speed of hertz. all stations come over to mithis is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. >>> i be on to the program. we're just getting news out of spain with its debt auction as it continues to furntd itself for the end of the year. more on the 12 month. the yield coming in at 0.2% versus 0.88% on february the 12th. coming in at 1.4% versus 1.5%. it's just shy of 2 billion for the six month and about 3.8 billion of the 12-month. bid to cover ratios on the shorter dated paper were higher, the.2% versus 3.9%. and for the 12 m

will much of more in your forecast and tomorrow is looking dry. >> steve paulson will have your complete forecast in just a minute and don't forget you can get your latest information on www.ktvu.com and click on weather. >>> he is now facing federal charges. andre franklin was arrested march 3rd accused of stealing a rear gold jewelry box and now he is accused of selling the jewelry box to a business owner and demanding $10,000. franklin told the man who he would turn the man into police if he did not pay up. >>> they are warning about potential fees and the city created this for undocumented immigrants and they were able to offer banking services but they have uncovered hidden fees. card holders are charged $2 for federal benefits and are charged a dollar every time federal benefits are put through through direct -- put there through direct deposit. >>> you can see president barack obama greeting the leaders there and he says he wants to make clear to the world that the u.s. stands with israel and coming up at 5:15 a hot topic which is expected to dominate his talks with israel today.

steve paulson will let you know when all of this rain is expected to clear up.onna check in with sal castanedo. we had a couple of areas in solano county this morning, right, sal? >> that's right. things are getting better. thank you, tara p.m. southbound 101 is getting -- tara p.m. southbound 101 is getting -- tara. southbound 101 is getting better. the traffic on southbound 101 in san francisco is getting pretty slow. the traffic is going to be better on 280 southbound as you leave the city that way. let's take a look at the bay bridge toll plaza. that's improved quite a bit if you are driverring to get into san francisco i think this would be a good way to go. if you are driving on the peninsula, traffic on 101 southbound looks good. but the hayward to fremont commute, still very slow although it's improved quite a bit. it was about 45 minutes earlier. we're seeing improvement as you head south on 880. let's go to steve. >>> cloudy skies. a little bit of a breeze has picked up. more clouds than light rain. fremont, san jose, santa cruz mountains. plenty of cl