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December 22, 2008
How much HAS Harvard Lost?
At the Huffington Post:
Harvard University's admission that it lost $8 billion from its $36 billion endowment fund, as staggering as it sounds, may grossly underestimate the true magnitude of the loss between from July 1 through Oct. 31 2008. According to a source close the Harvard Management Corporation (HMC), which runs the fund for Harvard, the loss is closer to $18 billion if the losses on the fund's illiquid investment are realistically appraised.
In other words, not a little less than a quarter, more like half. Yikes.
via Cliopatria. Though now that I look around, Prof. Soltan has a picture.
Posted by CrankyProfessor at December 22, 2008 7:14 AM
Comments
According to wiki, Harvard is the oldest corporation in the U.S. as well. This must present a conundrum for Marxist Profs at Harvard.
Posted by: Marc at December 23, 2008 1:26 PM