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November 28 2010
How a Fund Helped Make Gold Prices Glitter - WSJ.com
Oh look, "Ocean's 14" practically writes itself:"Ben Davies, chief executive of London-based Hinde Capital, which oversees a gold fund, noted that GLD's bullion isn't insured. If the gold "is lost, damaged, stolen or destroyed," the trust "may not have adequate sources of recovery," according to the prospectus.
Mr. Toussaint said the council believes HSBC's security measures and the bank's other liability coverage provide protection. "That's the whole reason we put it in a vault in the first place," he said."
