But after those problems receded, investors around the world lost interest in gold because inflation was tamed and stock markets generated consistent gains.
Chemical said that this and other sales could generate pretax gains of at least $300 million by 1988.
Entrepreneurship does generate net gains, but most of those gains don't go to the risk-takers.
Another reason was that the first quarter's job gains were too modest to generate significant gains in personal income.
According to Bayou's 2004 financial statements, its four funds generated net gains totaling $54.3 million.
The endowment, which manages 55 percent of its money internally, trades aggressively and generates largely short-term gains.
The study's authors said that while the managers' ability to generate gains had shrunk, there was no way to tell whether that erosion would continue.
This style has helped generate strong long-term gains over the past 10 years, with low volatility.
How one controversial new fund generated gains last year.
But it has generated economic gains of just over one percentage point.