Thursday, 30 October 2014
Last updated 33 min ago
Apr 19 2011 | 11:26am ET
John Paulson isn't the only hedge fund manager with a powerful taste for gold. But Kyle Bass' latest gold gorge wasn't made on his own behalf.
The Hayman Capital Partners founder, who last year was named to the University of Texas Investment Management Co.'s board of directors, pushed the endowment to buy nearly $1 billion worth of physical gold bullion. The more than 20 tons of the precious metal are being stored in a New York vault and represent nearly 5% of the endowment's total assets.
"Central banks are printing more money than they ever have, so what's the value of money in terms of purchases for goods and services?" Bass asked Bloomberg News. "I look at gold as just another currency that they can't print any more of."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.