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

CaptHenwayCaptHenway Posts: 32,413 ✭✭✭✭✭
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: 13,275 ✭✭✭
    "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: 32,413 ✭✭✭✭✭


    << <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: 3,388 ✭✭✭✭✭
    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: 28,310 ✭✭✭✭✭
    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: 37,206 ✭✭✭✭✭
    Looks like a perfect storm is settling in for gold and smart fund managers are starting to see the big picture.

    Repetition of ignorance is ignorance raised to the power two.

  • roadrunnerroadrunner Posts: 28,310 ✭✭✭✭✭
    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: 32,413 ✭✭✭✭✭


    << <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: 9,270 ✭✭✭


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


    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • 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: 7,657 ✭✭✭


    << <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: 32,413 ✭✭✭✭✭
    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: 5,426 ✭✭✭✭✭


    << <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: 32,413 ✭✭✭✭✭


    << <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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