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Kyle Bass says hold onto your gold

post #1 of 5
Thread Starter 

Kyle Bass, the Dallas hedge-fund manager, urged overseers of Texas (STOTX1)’s state university endowment, the second-largest U.S. college fund, to stick with a $1 billion investment in gold bullion even as the fund’s assets decline.

 

“I’m against selling any of the gold,” Bass said today at a meeting of fund directors in Austin, citing the need for a hedge against mounting risks driven by government deficits in the U.S. and Europe. “As every day goes by, I see deflation in the things you own and inflation in the things you need.”

 

The $19.1 billion in endowment funds overseen by the University of Texas Investment Management Co., or Utimco, lost almost 3.8 percent on invested assets in the four months through December, preliminary figures distributed today show. The Standard & Poor’s 500 Index of shares gained almost 4 percent over the same period, including reinvested dividends. In 2011, the Texas fund’s allocations rose

 

Wary Outlook

Charles Tate, chairman of Capital Royalty LP in Houston, and other Utimco trustees echoed the wary outlook held by Bass, citing concern that the Federal Reserve’s plan to keep interest rates low for two years may only delay an economic decline.

 

The Fed’s governors, led by Chairman Ben S. Bernanke, “are scared as they can be of deflation,” said Ardon Moore, president of Lee M. Bass Inc., an energy company in Fort Worth, Texas. “This is a grand experiment and they typically never

 

 

http://www.bloomberg.com/news/2012-02-02/kyle-bass-urges-texas-endowment-fund-to-hold-gold-hedge-as-assets-shrink.html

post #2 of 5

Bass: "I'm against selling any of the gold"... I see deflation in the things you own and inflation in the things you need."

 

 

So wouldn't your gold be deflating, since you own it? And gold is something you don't need. And with that logic, isn't it best then NOT to own gold?  laughing.gif

 

 

Quote:
Originally Posted by StockJock-e View Post

Kyle Bass, the Dallas hedge-fund manager, urged overseers of Texas (STOTX1)’s state university endowment, the second-largest U.S. college fund, to stick with a $1 billion investment in gold bullion even as the fund’s assets decline.

 

“I’m against selling any of the gold,” Bass said today at a meeting of fund directors in Austin, citing the need for a hedge against mounting risks driven by government deficits in the U.S. and Europe. “As every day goes by, I see deflation in the things you own and inflation in the things you need.”

 

The $19.1 billion in endowment funds overseen by the University of Texas Investment Management Co., or Utimco, lost almost 3.8 percent on invested assets in the four months through December, preliminary figures distributed today show. The Standard & Poor’s 500 Index of shares gained almost 4 percent over the same period, including reinvested dividends. In 2011, the Texas fund’s allocations rose

 

Wary Outlook

Charles Tate, chairman of Capital Royalty LP in Houston, and other Utimco trustees echoed the wary outlook held by Bass, citing concern that the Federal Reserve’s plan to keep interest rates low for two years may only delay an economic decline.

 

The Fed’s governors, led by Chairman Ben S. Bernanke, “are scared as they can be of deflation,” said Ardon Moore, president of Lee M. Bass Inc., an energy company in Fort Worth, Texas. “This is a grand experiment and they typically never

 

 

http://www.bloomberg.com/news/2012-02-02/kyle-bass-urges-texas-endowment-fund-to-hold-gold-hedge-as-assets-shrink.html



 

post #3 of 5
Thread Starter 

Stop arguing with Kyle Bass! laughing.gif

 

He said he sees inflation in the things you need. Dont you sprinkle gold flakes on your cereal in the morning?

post #4 of 5


no i sprinkle diamonds cuz it makes my doo doo twinkle

Quote:
Originally Posted by StockJock-e View Post

Stop arguing with Kyle Bass! laughing.gif

 

He said he sees inflation in the things you need. Dont you sprinkle gold flakes on your cereal in the morning?



 

post #5 of 5
Thread Starter 

Gold is easier on your digestive tract, you should really switch.

 

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