Kyle Bass of Hayman Capital Management LP is a big fan of physical gold and has advised the University of Texas' endowment fund to hold on to its recent ($1 billion) purchase of physical gold bullion.
“I’m against selling any of the gold,” Bass said today at a meeting of fund directors in Austin, citing the need for a hedge against mounting risks driven by government deficits in the U.S. and Europe. “As every day goes by, I see deflation in the things you own and inflation in the things you need.”
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