Universities consistently claim they can't divest evil things or invest endowment for good because they must seek highest returns. But over last decade, they paid huge fees to hedge funds who deliver less than market returns. tip:
Calling all trustees of colleges and foundations: Most endowment managers are underperforming simpler, cheaper investments, via #philanthropy
And the silliness spreads. Paraphrasing: “After a 9 year bull market they should’ve had a much higher beta!” “And, when the GFC rolls out the 10 year comparison will be even worse!” “Sure they helped in the GFC, but we’ll never need that again...”
College Endowments Opt for Alternative, and Less Lucrative, Route