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hey boxgirl, lechakakahn and cmu,
my response is waiting for you at yesterday’s post.
You didn’t really think I would let you go without a debate did you?
Agree that FY2008 was a stellar performance, continuing the success Harvard and Yale had in the past several years. But according to sources online, the letter was sent 1/12/09 and concerned the 22% drop in the first four months of FY2009.
Does seem fair that if the fund managers were racking up those gains they deserved to be compensated. Also seems fair that when they take a hit they work for the same salary as the janitor.
Then of course they still have eight months to go.
Yes, denton, correct…it is a June fiscal year. It was up 8.6% and it was after those results were announced that the Class of 69 sent their letter of protest. S&P 500 was off 16% for those 12 months.
The endowment is down 22% for the first four months of FISCAL 2009. And it could be a LOT worse as that does not yet account for private equity and other investments.
The endowment is down 22% for the first four months of FISCAL 2009. And it could be a LOT worse as that does not yet account for private equity and other investments.
hey boxgirl, lechakakahn and cmu,
my response is waiting for you at yesterday’s post.
You didn’t really think I would let you go without a debate did you?
‘BRG – I didn’t tell you that your first post up top made me laugh out loud.’
Thanks Ditto. Can you say it loud enough so some people (actually two in particular) hear you.
Hey DIBS:
Agree that FY2008 was a stellar performance, continuing the success Harvard and Yale had in the past several years. But according to sources online, the letter was sent 1/12/09 and concerned the 22% drop in the first four months of FY2009.
http://www.bloomberg.com/apps/news?pid=20601103&sid=aNB2.1.HQWbc&refer=us
Does seem fair that if the fund managers were racking up those gains they deserved to be compensated. Also seems fair that when they take a hit they work for the same salary as the janitor.
Then of course they still have eight months to go.
I loves me a left-leaning, literate grl with headless Barbies.
Yes, denton, correct…it is a June fiscal year. It was up 8.6% and it was after those results were announced that the Class of 69 sent their letter of protest. S&P 500 was off 16% for those 12 months.
bxgrl, glad I could spread the word.
BRG – I didn’t tell you that your first post up top made me laugh out loud.
DIBS, I think you’re wrong about Harvard.
The endowment was in fact up 8.6% for the FISCAL year 2008, which just happened to end June 2008.
http://www.hmc.harvard.edu/investment_performance/2007_performance.php
But we know what happened after June.
The endowment is down 22% for the first four months of FISCAL 2009. And it could be a LOT worse as that does not yet account for private equity and other investments.
http://www.bloomberg.com/apps/news?pid=20601103&sid=alRCxiYioRUI&refer=us
So it appears to me that someone other than the Class of ’69 has their head up their ass 🙂
DIBS, I think you’re wrong about Harvard.
The endowment was in fact up 8.6% for the FISCAL year 2008, which just happened to end June 2008.
http://www.hmc.harvard.edu/investment_performance/2007_performance.php
But we know what happened after June.
The endowment is down 22% for the first four months of FISCAL 2009. And it could be a LOT worse as that does not yet account for private equity and other investments.
http://www.bloomberg.com/apps/news?pid=20601103&sid=alRCxiYioRUI&refer=us
So it appears to me that someone other than the Class of ’69 has their head up their ass 🙂
dittoburg- 4 meows 🙂
Loving the Mitchell books, by the way!