Thanks Vince. Why didnt they repatriate all that gold at $1650, when Basel III came into effect for everybody else? Doesnt make sense to be doing it now at $2800-$3000. Whats the thinking behind preferring to pay well over $1000 an ounce for it?
Re pension funds, these creatures have pretty rigid strategic asset allocations like 10% intl, 5% alt assets, 10% real estate 40% (US) stocks, and 35% fixed income - and they move glacially and only at their quarterly meetings. They will tweak their tactical allocations a tiny bit, but not by much. Just saying not to expect some big tidal wave into international from these particular entities. Others, like hedge funds, sure.
Wow reading this is just like a photo..you instantly see the big picture... Well said Vince. Thank you!
Thanks Vince. Why didnt they repatriate all that gold at $1650, when Basel III came into effect for everybody else? Doesnt make sense to be doing it now at $2800-$3000. Whats the thinking behind preferring to pay well over $1000 an ounce for it?
Re pension funds, these creatures have pretty rigid strategic asset allocations like 10% intl, 5% alt assets, 10% real estate 40% (US) stocks, and 35% fixed income - and they move glacially and only at their quarterly meetings. They will tweak their tactical allocations a tiny bit, but not by much. Just saying not to expect some big tidal wave into international from these particular entities. Others, like hedge funds, sure.