Friday, January 29, 2010

College Endowments - Deep is Their Pain

Forbes has an article online, titled College Endowments In Jeopardy, which provides some data on how much money various colleges and universities lost in 2009.  An estimated $93 billion dollars.

Interestingly enough, Curt, at Selling Waves, commented on just this subject, specifically Harvard’s endowment woes, in a post titled Deep In The Crimson.  I cannot say if Curt’s post was spurred by reading the Forbes article linked above, but I found his post entertaining.  The final paragraph.

Now I think I’m starting to see how they lost all that money. They have no idea where it came from or went to. They lose $10 billion through bad real estate investment and over-exposure in the stock market and they’re looking for it in the coffee carafes. Don’t be deceived by the physical resemblance of the faces on the money that you give to coked-up investment bankers and the money you give to the energy company. There’s really no relationship between them. Harvard is like an old woman who leaves her purse in a restaurant and, when she notices, starts poking the first teenager she sees with her umbrella, convinced he stole it.

Posted by John Venlet on 01/29 at 07:54 AM
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