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University of Texas Takes Delivery Of $1 Billion
Posted:
Sun Apr 17, 2011 12:37 amby blackrabbit
Re: University of Texas Takes Delivery Of $1 Billion
Posted:
Sun Apr 17, 2011 3:04 amby 68Camaro
That is very interesting...
Re: University of Texas Takes Delivery Of $1 Billion
Posted:
Sun Apr 17, 2011 10:03 amby Kurr
“Central banks are printing more money than they ever have, so what’s the value of money in terms of purchases of goods and services,” Bass said yesterday in a telephone interview. “I look at gold as just another currency that they can’t print any more of.”
Good call on that one!
Re: University of Texas Takes Delivery Of $1 Billion
Posted:
Sun Apr 17, 2011 8:41 pmby tinhorn
So that's 5% of their fund's assets. Smart move, but how is it that a university is sitting on so much money? That's even more than Massachusetts hospitals have socked away.
Re: University of Texas Takes Delivery Of $1 Billion
Posted:
Sun Apr 17, 2011 9:37 pmby TXTim
This is good!
Paper is paper!
Re: University of Texas Takes Delivery Of $1 Billion
Posted:
Sun Apr 17, 2011 9:45 pmby Neckro
One hell of an expensive education.
Re: University of Texas Takes Delivery Of $1 Billion
Posted:
Mon Apr 18, 2011 7:33 amby shinnosuke
tinhorn wrote:So that's 5% of their fund's assets. Smart move, but how is it that a university is sitting on so much money? That's even more than Massachusetts hospitals have socked away.
One word: Texas
Get over it.
Re: University of Texas Takes Delivery Of $1 Billion
Posted:
Mon Apr 18, 2011 7:44 amby franklin
It is part of the Permanent University Fund that was set up, I believe, in the late 1800s as funding for some state universities, primarily UT and Texas A&M. Primarily is from the west Texas oil fields that the state owns. Use by the universities is restricted to mostly new buildings and capital improvements.
Re: University of Texas Takes Delivery Of $1 Billion
Posted:
Tue Apr 19, 2011 6:40 pmby Sheikh_yer_Bu'Tay
tinhorn wrote:So that's 5% of their fund's assets. Smart move, but how is it that a university is sitting on so much money? That's even more than Massachusetts hospitals have socked away.
It is an endowment fund. The principal of endowments is mostly left alone. The fund generates interest and the interest is used to fund things. With a typical endowment fund, you only spend the interest it generates. That leaves large sums of liquidity just sitting around gaining interest.
Re: University of Texas Takes Delivery Of $1 Billion
Posted:
Tue Apr 19, 2011 7:55 pmby rickygee
Ah, yeah, that's right we bought a billion dollars in gold and we're letting a bank in NYC hold it for us. That's about as physical as a
, never mind. I smell fish.
Re: University of Texas Takes Delivery Of $1 Billion
Posted:
Mon Apr 25, 2011 2:05 amby John_doe
Why didn't they buy 5-10 years ago? They would have got a lot more bang for their billion bucks.
Leave it to Texas.
