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Park The Car In Harvard Yard

The Wall Street Journal is reporting that "Six top Harvard endowment managers were paid a total of $26.8 million for the fiscal year ended June 30." It should be pointed out that the endowment fund earned returns just south of 9% through June 30th next to double digit negatives for the S&P 500. Not bad. But it didn't last, of course. The last 90 days have been brutal to most endowments, Harvard's has been no exception shedding $8 billion (or around 22%) through early December. Somehow I doubt that any clawbacks are in the making for "Six top Harvard endowment managers" at year-end, whatever the endowment's final figures end up being.



Harvard Admits That Harvard Sucks At Managing Harvard's Money

In a blow to metaphysical obnoxiousness, the phrase "I'm a hedge fund manager at Harvard" is now obsolete.