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University of Texas invests $500,000,000 in gold

CaptHenwayCaptHenway Posts: 32,127 ✭✭✭✭✭
in Precious Metals
From its investment fund:

link
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.

Comments

  • Steve27Steve27 Posts: 13,274 ✭✭✭
    "The gold purchases represent only 3 percent of the University of Texas Investment Management Co.'s $22.3 billion in investment funds,...."

    Not a large percentage of their total investments.
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Good moveimage
    Avid collector of GSA's.
  • CaptHenwayCaptHenway Posts: 32,127 ✭✭✭✭✭


    << <i>"The gold purchases represent only 3 percent of the University of Texas Investment Management Co.'s $22.3 billion in investment funds,...."

    Not a large percentage of their total investments. >>



    But $500,000,000 more than "nothing."
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>

    But $500,000,000 more than "nothing." >>



    my thought exactly.
    "into gold" there are many was to be "into gold", though yet....
    image
  • pmcollectourpmcollectour Posts: 1,211 ✭
    Agree that it's a small percentage. They should have invested 2,000,000,000 instead.
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    Gotta start somewhere

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,363 ✭✭✭✭✭
    Commendable, good start.
    NO END IN SIGHT LIB $2.50'S CAC ONLY
    https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
  • fishcookerfishcooker Posts: 3,446 ✭✭
    Wow, that settles it! When I grow up I want to be an investment manager at the Univ. of Texas. I bet those guys even got applauded for "diversifying" the trust (9 years late!).
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    3% here, 3% there, and pretty soon you're talking about a lot of gold. What if every major university and pension fund did the same thing?

    Let's hope they didn't spend that $500 MILL on paper gold rather than a physical gold fund that actually has the metal in their hands.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • derrybderryb Posts: 36,795 ✭✭✭✭✭
    Looks like a perfect storm is settling in for gold and smart fund managers are starting to see the big picture.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Now if only Harvard had done this when Larry Summers was running the place instead of buying a lot of derivatives that they took a bath on.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • BearBear Posts: 18,953 ✭✭✭
    Is that paper gold, or the real physical McCoy Gold?
    There once was a place called
    Camelotimage
  • dpooledpoole Posts: 5,940 ✭✭✭✭✭


    << <i>Is that paper gold, or the real physical McCoy Gold? >>




    From the full article:

    He said most of the gold purchases have been through futures trading, but he said UTIMCO may take physical possession of some gold.

    Here's a warning parable for coin collectors...



  • CaptHenwayCaptHenway Posts: 32,127 ✭✭✭✭✭


    << <i>Is that paper gold, or the real physical McCoy Gold? >>



    I wondered that myself......
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • guitarwesguitarwes Posts: 9,266 ✭✭✭


    at $1185 spot, that's 421941 oz. that's alot of yella.


    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
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  • BearBear Posts: 18,953 ✭✭✭
    I guess that they can have the football team ,carry the ingots in.
    There once was a place called
    Camelotimage
  • agentjim007agentjim007 Posts: 6,256 ✭
    they're cost averaging
  • Wolf359Wolf359 Posts: 7,656 ✭✭✭


    << <i>

    << <i>Is that paper gold, or the real physical McCoy Gold? >>




    From the full article:

    He said most of the gold purchases have been through futures trading, but he said UTIMCO may take physical possession of some gold. >>



    Had to be phony paper Gold. 500 million of Real Gold delivered would probably cause a COMEX default.
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  • CaptHenwayCaptHenway Posts: 32,127 ✭✭✭✭✭
    How much would two 24kt goalposts cost??????????????

    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • 1jester1jester Posts: 8,637 ✭✭✭
    So they bought paper. What a bunch of idiots.

    imageimageimage
    .....GOD
    image

    "Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9

    "Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5

    "For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭


    << <i>How much would two 24kt goalposts cost??????????????

    image >>



    Plated or solid?

    I know the Georgia capital dome is coated in 43oz of gold.
  • CaptHenwayCaptHenway Posts: 32,127 ✭✭✭✭✭


    << <i>

    << <i>How much would two 24kt goalposts cost??????????????

    image >>



    Plated or solid?

    I know the Georgia capital dome is coated in 43oz of gold. >>



    Solid, man!
    This is TEXAS we're talking about!!!!!!

    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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