Lessons For Harvard's Endowment?
Nicholas A. Vardy, Chief Investment Officer at Global Guru Capital, wrote a comment for MarketWatch, How one man in Nevada is trouncing the Harvard endowment : This past weekend, I attended a gala reception for over 500 European Harvard alumni gathered in the impressively refurbished main hall of the Deutsches Historisches Museum (German Historical Museum) in Berlin. Harvard's President Drew Faust regaled alumni with self-congratulatory statistics on how Harvard is spending the fruits of its current $6.5 billion fund raising campaign, refurbishing undergraduate housing and getting Harvard' science and engineering departments up to snuff. There was other news from Cambridge, Massachusetts that President Faust ignored in her polished plea to well-heeled alumni in Berlin. And that has been the embarrassing performance of the Harvard endowment over the past decade. For all of Harvard's fund raising prowess — second only to Stanford — six years of Harvard's curr