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To: Joseph G. who wrote (2785)	7/7/1998 12:41:00 PM
From: Jumper	Read Replies (1) \| Respond to of 86076

I have been working on a project with the Ford Foundation for the last 2 years. You would be amazed how private foundations invest their endowment. Most private foundations are in 100% equities- Corporate Foundations like Citicorp or Chase know better A market decline would devastate multi billion endowments at the likes of Pew Charitable Trust, Kellog Foundation etc., They will have less money to distribute and in a downturn could be forced to turn Cramer and Company away from the Soup kitchen :)