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To: AK2004 who wrote (157854)	2/6/2002 8:19:00 AM
From: GVTucker	Read Replies (1) \| Respond to of 186894

albert, RE: 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. This is a long option position, with a defined risk. As long as it is within overall position limits, it usually wouldn't warrant anything exceptional. 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. The Harvard endowment is the largest university endowment in the US and probably the world, so I don't think it would be accurate to characterize it as "not that big to begin with".