Friday, February 3, 2012

Kyle Bass Urges Texas Fund to Hold Gold Hedge

Bloomberg has an article today on noted hedge fund manager, Kyle Bass, urging the $19B University of Texas Endowment (UTIMCO) to hold on to its $1B investment of gold bullion purchased in 2011. Bass sits on the board of the endowment.

[Bass] faulted the world’s biggest central banks for expanding the money supply by what he said was $15 trillion during the past five years.

I’m against selling any of the gold ...As every day goes by, I see deflation in the things you own and inflation in the things you need.

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