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Remember University of Texas buying Gold?
Posted:
Wed May 22, 2013 12:20 pmby fasteddy
A few years back UT bought alot of gold for their endowment fund...They are down $300 million currently. Ouch. But probably a drop in the bucket dollar wise.
Re: Remember University of Texas buying Gold?
Posted:
Wed May 22, 2013 1:54 pmby AirTractor
fasteddy wrote:A few years back UT bought alot of gold for their endowment fund...They are down $300 million currently. Ouch. But probably a drop in the bucket dollar wise.
In ten years they might have their own tv network.... oh yeah, they already do!
It'll pay off for them in the long haul. I'm sure UT isn't hurting for $. As much as I hate the Longhorns, I do respect them (even though KState has owned them recently
)
Re: Remember University of Texas buying Gold?
Posted:
Wed May 22, 2013 3:58 pmby JerrySpringer
fasteddy wrote:A few years back UT bought alot of gold for their endowment fund...They are down $300 million currently. Ouch. But probably a drop in the bucket dollar wise.
Maybe they could eventually sell that gold to their students or alumni through some program. Not kidding really. If gold has value to UT, it will be by selling/leasing it out. A major price drop on gold w/o UT having sold any makes them a bagholder. They could at least sell it to alumni in a fund drive someday maybe?
Re: Remember University of Texas buying Gold?
Posted:
Wed May 22, 2013 4:51 pmby 68Camaro
I don't believe they're down at all, much less $300M. The reveal that they had it was in 2011 when gold was $1486, and they already had it then. Another article said their average buy price was $1150/toz, so they're still sitting just fine, best as I know.
Re: Remember University of Texas buying Gold?
Posted:
Wed May 22, 2013 4:55 pmby sparechange
Not to worry, the citizens of Texas will be "happy" to bail them out(if necessary)seeing that the university is publicly funded, or maybe they can get advice from the likes of JPMorgan,BOA, etc., and get all taxpayers to pitch in.
Re: Remember University of Texas buying Gold?
Posted:
Wed May 22, 2013 5:43 pmby JerrySpringer
68Camaro wrote:I don't believe they're down at all, much less $300M. The reveal that they had it was in 2011 when gold was $1486, and they already had it then. Another article said their average buy price was $1150/toz, so they're still sitting just fine, best as I know.
Yeah I read they are in the black, had sold some the earlier this year, have bought some futures in gold and equities, etc. Can we get them on the copper bandwagon somehow? They have 10's of billions of dollars to endow with.............
Re: Remember University of Texas buying Gold?
Posted:
Sat May 25, 2013 7:56 amby wheeler_dealer
68 Camaro is correct they are sitting comfortable. They bought early, cashed out some at a profit, then bet the paper game. Besides Kyle Bass will take care of them if necessary. Endowments are held for future benefits not current needs. Time is on there side.