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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: TH who wrote (282473)	10/11/2010 10:13:33 AM
From: Tommaso	Respond to of 306849

The Harvard endowment actually rose (like everything else) in 2007 when El-Erian was there, but fell more than it had risen immediately after he left. From Wikipedia: "El-Erian previously worked as the investment manager of Harvard Management Company, Harvard University’s US$34.9 billion endowment fund, where he spent almost two years.[1][2] On September 12, 2007, it was announced that El-Erian would return to PIMCO and take up his new roles starting January 1, 2008" And then from the NY Times: "Published: December 3, 2008 In a sign of the economic times, Harvard has sent a letter to its deans saying that the university’s $36.9 billion endowment fund lost 22 percent of its value in the last four months and could decline as much as 30 percent by the end of the fiscal year on June 30." I quit giving Harvard money when I saw they were losing billions in things I would never have invested in.