Monday, 27 April 2015
Last updated 7 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."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…