More "Wisdom" From the Cultural Elite - Harvard Bigshots Sink Fund

I remember thinking how stupid it was for Harvard to get rid of fund manager Jack Meyer because he made too much money. He was the guru who made Harvard over 16% a year for 10 years while trading billions. Incredibly even that market beating return wasn’t enough for Harvard to keep him around.

The lamentations of the privileged were too much and Harvard brought on less well paid help to manage their $18 Billion endowment. They got what they paid for according to Bloomberg, “Harvard's return on its endowment fund slipped to 16.7 percent in the fiscal year ended June 30, the lowest in three years, and behind rivals Yale University and Stanford University.”

Unfortunately the article didn’t cover any of the important questions, like why do people still contribute a school that already is sitting on $18b?