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On Air Staff and WPM Interns
Tue December 18, 2012
State well positioned with investments
Wyoming’s investment portfolio should allow it to survive the looming fiscal cliff and international financial problems.
Gordon says former Treasurer Joe Meyer and others have done a good job of diversifying Wyoming’s portfolio. He says that has allowed the state to make significant amount money through investments.
"We have a very, very diversified approach and portfolio. That puts the investment picture, which is the third most important component of Wyoming’s revenue stream…it kind of puts it in good stead. "
Gordon says that is important as the state addresses issues ranging from declining natural gas revenues to the uncertain future of Wyoming’s Coal industry.
Gordon adds that budget discussions in Congress certainly have the attention of investors, but he says the state has a diversified approach to investing and that will need to continue in 2013.
“So that means a broad based and diversified strategy that has both hedging components to it, some fixed income components to it. It has the state in a nimble position of saying you know probably won’t get all of this right, but lets get 90 percent of right or 80 percent of
it right and make sure the state rides through this pretty well.”
Gordon says it will be something that they will likely have to watch closely for a very long time.