The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Poet who wrote (188131)	3/4/2009 6:03:33 AM
From: stockman_scott	Read Replies (3) of 306849

An interesting comment on a New York Times blog: dealbook.blogs.nytimes.com Yesterday my wife and I got a lengthy letter from the President of Duke University where our son is an undergraduate. The letter essentially gave parents an update on the impact of the current economic environment on the University. In short, salaries are being frozen, job cuts are on the way and new capital projects are being suspended. While the letter explicitly linked declining asset values in the University’s endowment to the coming cut-backs, it implied that this was simply the outcome of exposure to systemic risk. In fact, like Harvard, Duke’s investment managers exposed the endowment to a hefty allocation in high-risk, leveraged and illiquid investments. For a good few years now the entire foundations and endowment world has been in a swoon over Harvard’s outstanding performance and has taken an increasingly dim view of ‘marketable securities’ - i.e. stocks and bonds. Going forward I hope the best for these institutions’ fortunes, and I hope that they will be more risk-averse and conservative in their asset allocation strategies. — Posted by John March 3rd, 2009 3:01 pm

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