Monday, April 18, 2011

UT one billion gold

I started following University of Texas because of Vince Young and actually blogged that he should have been the number one pick. Still blame Madden cover for wrecking VY but VY was one of the best college players ever.

The University of Texas (UT) has just taken delivery of one billion dollars of physical gold.  The decision to turn the fund's investment into gold bars was influenced by Kyle Bass, a Dallas hedge fund manager and a board member, Zimmerman said at its annual meeting last week. Bass made $500 million on the subprime mortgage collapse.

I think this action is another step closer to the tipping point in which major organisations/institutions will start converting a significant percentage of their assets to Gold. UT alumni is pretty strong and their supporters have a large influence in US society's

For me its interesting in that I see it as battle between Harvard and Texas where Harvard types are ones in control of investment banks and hedge funds where UT types are more into commodities and where using Harvard types financial instruments until they saw the light.


Post a Comment

<< Home