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Subject: Re: Houghton College beats Harvard


Author:
Calvin
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Date Posted: 08:51:38 02/10/17 Fri
In reply to: remember it well 's message, "Houghton College beats Harvard" on 22:48:17 02/09/17 Thu

From the article:
"
Nonetheless, in a report written by the previous chief executive of Harvard Management Company, which oversees the university’s endowment, Harvard said that 'we continue to believe that partnering with best-in-class managers will lead to attractive risk-adjusted returns.' Why Harvard would harbor such a belief after years of hedge fund underperformance remains a mystery to some."

I suspect a large part of the answer may lie in where those "best in class managers" went to school.

And possibly in how much they give to their college in annual giving.

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Replies:
[> [> Subject: Re: Houghton College beats Harvard


Author:
Diogenes (Calvin)
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Date Posted: 09:55:58 02/10/17 Fri

Another example of the Ivy League as a self-fulfilling prophecy.

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[> [> [> Subject: Re: Houghton College beats Harvard


Author:
remember it well (Calvin)
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Date Posted: 14:01:43 02/10/17 Fri

Or should it be considered "pay to play."

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[> [> Subject: Re: Houghton College beats Harvard


Author:
remember it well (Dio)
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Date Posted: 12:54:30 02/10/17 Fri

Self-fulfilling and self-serving.

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[> [> [> Subject: Re: Houghton College beats Harvard


Author:
Diogenes (remember it well)
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Date Posted: 13:17:17 02/10/17 Fri

Indeed.

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[> [> [> [> Subject: Which raises an interesting question


Author:
Calvin
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Date Posted: 13:33:05 02/10/17 Fri

Should schools calculate their ROI based only on the cash received from investments, or on all proceeds directly attributable to their investment policy?

Let's suppose some hedge fund manager who went to, just say, the No.1 ranked school in his home city and was entrusted to manage a portion of his alma mater's endowment. He charges a fee of 2/20, so he's getting enough to make a (tax-deductible) donation to alma mater (perhaps even enough to pay a basketball coach's salary supplement for a week). Should that donation be considered an investment "return"?

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[> [> [> [> [> Subject: Speaking of ROI


Author:
Diogenes (Calvin)
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Date Posted: 22:31:23 02/10/17 Fri

Consider the accelerating depreciation of Ivy "intellectual capital".

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[> [> [> [> [> [> Subject: Re: Speaking of which


Author:
Calvin
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Date Posted: 13:52:21 02/11/17 Sat

Despite the fact that I was fully depreciated some time ago, I believe the IL fancies itself as the capital of intellectuals.

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