Hathaway: More Talk About Gold Than Action
Posted by Investment Rarities on April 21st 2011 in China, Federal Reserve, General Economy, Gold, Goldman Sachs, Monetary Policy, Short Sellers, Silver, U.S. Congress, Wall Street | Be the first to comment!
As the CEO of the University of Texas Investment Management Co. goes on CNBC to explain the endowment’s decision to take physical delivery of its gold, Tocqueville Gold Fund’ manager, John Hathaway, tells Bloomberg that the bigger aspect of the story was that “I can’t think of another college endowment that has gold at all,” and if others “were to get on side with Texas … that could add hundreds of dollars to the gold price.” And describing gold as still a “fringe strategy,” Hathaway predicted that “this high visibility story about Texas will make it more mainstream and I think many more people will see it as an anchor to the total portfolio.” Asked about the possibility of gold being overheated, he said it’s “still under-owned” and “there’s more ink, more talk about it than there is action.”
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