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To: GVTucker who wrote (157679)	2/4/2002 12:26:08 PM
From: Ali Chen	Read Replies (2) \| Respond to of 186894

"..a money manager hired to manage a small piece of the Harvard endowment invested a piece of that money in a short position in Enron and profited from that position." So, a small thievery is not a thievery... I see your logic... and there will be never enough of investigators to investigate. No investigators, no evidences... Nice night teaching for kids about "true valuable investments"... - Ali

To: GVTucker who wrote (157679)	2/4/2002 12:47:29 PM
From: Bernard Levy	Respond to of 186894

When interviewed a few years ago, the person managing Harvard's money was asked if he had any rules explaining his success in managing Harvard's money, when compared to the mediocre performance of other institutions of higher learning. He said he had two rules: a) Never take advice from the Business School b) Never take advice from the Economics Dept. (presumably this included Larry S.)

To: GVTucker who wrote (157679)	2/6/2002 12:23:01 AM
From: AK2004	Read Replies (1) \| Respond to of 186894

GVT re: If you want to teach your kids that there are violations of the law even though there is no evidence, go ahead. I just read the article and would disagree with you mainly because of the following quotes: 1) "Highfields reported another round of bets that Enron would fall, with 2.3 million put options worth $62.6 million" 2) "Wrinn said the Harvard Management Co., which oversees Harvard's total endowment, does not participate in investment decisions made by Highfields, ''including its Enron investments.''" With a number of companies getting into trouble because of the large bets on option. Most of the companies put in place some sort of centralized control that approves large stakes in option. Hedge fund is a fraction of total endowment which is not that big to begin with so it is reasonable to assume that $50 mil is a large stake for that fund. I can not see how 2) could be true given more than one round of investment in options 1). If nothing else that should raise the red flag and potential connection should be seriously considered. In this case even potential connection was established. Regards -Albert