Article

2009-12-06 Economy

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Posted by Anonymoose 2009-12-06 12:25|| || Front Page|| [11127 views ] Top

#1 Blame Larry Summers, who pushed the university's investment managers to put way too much of the endowment's cash into risky, high-payoff places long after the warning signals were flashing.

Posted by lotp 2009-12-06 13:19|| 2009-12-06 13:19|| Front Page Top

#2 The 'best and the brightest' have failed again.

Posted by Anguper Hupomosing9418 2009-12-06 13:29|| 2009-12-06 13:29|| Front Page Top

#3 Wait a minute. Summers was forced out by the womyn in February 2006. There were no real signs flashing then that hadn't been flashing since 1997, when he was Dep Sec Treas.

What Summers did made sense when he did it. But Faust is no Summers and didn't realize the situation had changed. Given what Faust isn't, I'd blame the Treasurer of the Harvard Corporation for not figuring it out a year later in mid 2007. But then the Treasurer of the Harvard Corporation is a part time position.

Posted by Nimble Spemble 2009-12-06 13:29|| 2009-12-06 13:29|| Front Page Top

#4 Even with the losses, Rothenberg said, the cash strategy has earned Harvard returns averaging 8.9 percent over the past 10 years. He and other university officials say the cash pool is still ahead of where it would have been, if invested more conservatively all along.

They did very well managing short term, highly liquid 'cash', even with the once in a century event. It would be interesting to know what Summers would have done. Would he have changed strategy in time?

Posted by KBK 2009-12-06 16:23|| 2009-12-06 16:23|| Front Page Top

#5 Foreign and low income scholarship programs may be part of the cause. But then again, how could Harvard produce such enlightened souls such as this poor fellow.

Be sure to check out the "Harvard University Senior Thesis Adviseeees" section of the CV.

Posted by Besoeker 2009-12-06 16:38|| 2009-12-06 16:38|| Front Page Top

#6 I was thinking about getting an MBA from Harvard but then again maybe they don't know so much.

Posted by JohnQC 2009-12-06 17:14|| 2009-12-06 17:14|| Front Page Top

#7 No Sympathy. Their theories ruined so many American jobs. I will wish them ill till the end.

Posted by 3dc 2009-12-06 17:45|| 2009-12-06 17:45|| Front Page Top

23:58 KBK
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