Wyoming Treasurer Mark Gordon, who took office following the death of his predecessor, will seek another term, his campaign announced Tuesday.
Gordon, a Republican, launched his campaign Monday in his hometown, Buffalo. He had campaign events Tuesday in Gillette and Cheyenne, according to a campaign statement.
The treasurer manages and invests more than $17 billion in state money. Gordon said his office made $936.5 million in investment revenue in the last fiscal year.
“If you break that down by the number of people that are in the state, it comes down in excess of $1,500 per person,” he said.
They key to making the state money is a diversified stock portfolio, Gordon said. For example, emerging markets were hot for the first part of last year. Then they fell.
“What the portfolio is constructed to do is to take advantage of good returns when they happen and protect against bad returns by being broadly represented” in different stocks, bonds, and even private-equity and real estate, Gordon said.
For certain state accounts, state law dictates which financial instruments Gordon’s office can invest in. Other accounts have fewer restrictions on investments. Gordon uses financial managers, but his office researches the managers and rebalances the portfolio if it feels a manager has put too much money into one type of financial instrument. Decisions about moving money ultimately lie with the State Lands and Investment Board, Gordon said.
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“We do a fairly sophisticated analysis, but it rests with the State Land and Investment members,” he said.
Gordon was appointed to the position in the fall of 2012 to finish the remaining term of treasurer Joe Meyer, who had recently died.
Gordon and his wife, Jennie, own and operate ranches in Johnson County. They have four adult children.
The family ranch in Kaycee is called Gordon Ranch. The Gordons also own Merlin Ranch, in Buffalo, and the 48 Ranch Partnership — with Sen. John Schiffer, R-Kaycee, as co-owner.
Gordon is an owner of the movie theater in Buffalo. He has a bachelor’s degree in history from Middlebury College in Vermont and was a director of the Federal Reserve Bank of Kansas City, which has a region that includes Wyoming.
“I was nominated and elected as a non-banking or Class B director from this area because of the experience I had with agriculture, energy working for Apache Corp. and as chair of the Environmental Quality Council, and small business,” he said.
At Apache, he was director of conservation and stewardship for four years, he said.