Sometimes, timing is everything.
Published March 16, 2009:
“For a long while Harvard’s daring investment style was the envy of the endowment world. It made light bets in plain old stocks and bonds and went hell-for-leather into exotic and illiquid holdings: commodities, timberland, hedge funds, emerging market equities and private equity partnerships. The risky strategy paid off with market-beating results as long as the market was going up. But risk brings pain in a market crash. Although the full extent of the damage won’t be known until Harvard releases the endowment numbers for June 30, 2009, the university is already working on the assumption that the portfolio will be down 30%, or $11 billion.” —Forbes
Published April 6, 2009:
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It appears that Harvard is having less money trouble than many others. From June 08 – June 09 the market fell around 40% so if Harvard feel 30% they still beat the market
It appears that Harvard is having less money trouble than many others. From June 08 – June 09 the market fell around 40% so if Harvard feel 30% they still beat the market
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