Yale and especially Harvard have made many billions in the boom, any surprise that they are losing when the markets are down.......the answer is no, well, except for a journalist looking for a good headline.
They weren't so good before and they aren't so bad now.
Onésimo Alvarez-Moro
See article:
It's a tie in the Harvard-Yale investment game. Both schools were thrown for colossal losses.
The universities on Thursday said their endowments, higher education's two largest, each lost 30% of their value in the year ended June 30. Combined, the pair of investment pools shrank by a staggering $17.8 billion.
Declines in the endowments have forced the two schools to cut budgets and delay plans to expand facilities and hire staff, as even the country's top colleges are being forced by the financial crisis to retrench.
See full Article.
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