Did you know?

[18in32]

It isn’t really safe to account for investments the way you are measuring it without understanding liabilities and cash flows. It likely includes major capital assets that are not likely to convert to cash at any point. The GT AA operates at a realized loss while UGA operates at a realized gain of about $5-6m. Once you add in nonoperating expenses the divide gets worse. Our change in net position in 2016 was -15m, UGA in 2017 was +30. At the end of the day UGA is better set up long-term than GT.

Did you read my post?

Assets means unrestricted and restricted cash and securities. Does not include land and buildings (or equipment brand value goodwill etc.).