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Name:	GoneFishin -	Reply
Subject:	Don't Feel So Bad
Date:	9/10/2009 5:40:47 PM

Even the "experts" blew it as Harvard’s endowment tumbled 27.3 percent in its latest fiscal year, largely because of problems with its private equity and hedge fund portfolios, lopping off $10 billion and shrinking its portfolio to $26 billion.

The loss is the biggest percentage decline at Harvard in 40 years and has prompted a review of how it manages its money and allocates assets.

Name:	Yankee06 -	Reply
Subject:	Don't Feel So Bad
Date:	9/10/2009 9:11:29 PM

So much for people's admiration for and faith in Harvard Business School professors!

Name:	MartiniMan -	Reply
Subject:	Don't Feel So Bad
Date:	9/11/2009 10:14:22 AM

I have a hard time feeling very sorry for them given what they still have in the endowment. A friend of mine (Harvard grad) just sent his son there and they told me because of the endowment no student pays more that $25K per year to attend. Still a big amount but I guess if you want your kid to have that kind of education it makes it all the more worthwhile.

Probably more painful are all the charitable endowments that have taken a big hit. We did a First Tee project for a client's charity fund and they took such a hit on their value that it has been challenging for them to meet all their obligations.

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