Home Forums Hunting & Shooting Hunter's Campfire The Best Kept Secret In The Investment World : The Mormon Church And Its $100 Billion ....

..... NO SCHIT!!!! I bet “Pierre Delicto” knew.

According to the WSJ:

“For more than half a century, the Mormon Church quietly built one of the world’s largest investment funds. Almost no one outside the church knew about it.

Some of that mystery evaporated late last year when a former employee revealed in a whistleblower complaint with the Internal Revenue Service that the fund, called Ensign Peak Advisors, had stockpiled $100 billion. The whistleblower also alleged that the church had improperly used some Ensign Peak funds. Officials of the Church of Jesus Christ of Latter-day Saints, colloquially known as the Mormon Church, denied those claims.

They also declined to comment on how much money their investment fund controls. “We’ve tried to be somewhat anonymous,” Roger Clarke, the head of Ensign Peak, said from the firm’s fourth-floor office, above a Salt Lake City food court. Ensign Peak doesn’t appear in that building’s directory.

Interviews with more than a dozen former employees and business partners provide a deeper look inside an organization that ballooned from a shoestring operation in the 1990s into a behemoth rivaling Wall Street’s largest firms.

Its assets did total roughly $80 billion to $100 billion as of last year, some of the former employees said. That is at least double the size of Harvard University’s endowment and as large as the size of SoftBank’s Vision Fund, the world’s largest tech-investment fund. Its holdings include $40 billion of U.S. stock, timberland in the Florida panhandle and investments in prominent hedge funds such as Bridgewater Associates LP, according to some current and former fund employees.”

See:


https://www.wsj.com/articles/the-mo...cret-in-the-investment-world-11581138011

(To read the story go to Drudge and click on the link in Drudge to evade the paywall.)

Why do I not care even a little, little bit?

Should I?

So?

Want to guess where Romney’s Bain’s Capital experiences are being applied?

There won’t be any recall done on Romney.

Should be no surprise...Major religious organizations are about power and money... Those two things come above all else; always. Just look at their coverups. Instead of demonstrating the morality they try to shelve the masses with, they lie, cheat, and cover up. They ALL do that, and Mormon's are just as despicable as the rest.

Not a big thing but all tax free.

Because those swindling SOB's get to do it all tax free; and that's bullshit!!

The Mormon church put Romney in office to help protect their interests.

They need the money. Lots of it.

To cover the abuse lawsuits.

All churches are tax free

Doesn't the Catholic church own more gold than any other?

Yes, that is where I am. SO?

Around here it is plainly obvious the LDS church owns many ag lands, businesses, and warehouses full of durable goods and non perishables. They do very well to take care of their own, and produce children who typically grow into model citizens.

Never been audited that I know of. You ?

According to the WSJ article the Vatican / Catholic Church has an estimated wealth value of $50 Billion - The LDS Church: $100 Billion. What does this tell you: The Catholics should hire the Mormons to manage their money.

Hmm, I would guess that the Vatican has more than that

They loan money on farm land.

I agree, even after they have paid out for all the sex with minors law suits.

Apples cash on hand $200 billion. Mormons should hire Bezos to manage their money

A few years ago I was in Orlando with my shotguns shooting Sporting Clays with the Remington Factory team
at the TM Ranch. At that time they had a 500 acre shooting complex.

As the shoot progressed, at high noon one afternoon we were having barbecued Armadillo on the Veranda [can't make this crap up]

I asked the owner how much land he owned, his response was 11,000 acres. [this is in Orlando]

I also asked if he was the largest land owner in Orange County, his response was "hell no, my neighbor has 130,000 acres,
they ab-butt me, the Mormon Church" damn if that statistic did not surprise me.

Joe

Also the largest ranch in Hawaii, and all the land from Cokeville to the Wyoming border in Utah. Several large ranches in Texas, Colorado, (Uncompadre, IIRC) and 100s of Welfare farm acerages.

Amazon, maybe?