Harvard And Yale Lose Billions

Rather mind-boggling numbers:

Harvard’s endowment tumbled 27.3 percent in its latest fiscal year, largely because of problems with its private equity and hedge fund portfolios, lopping off $10 billion and shrinking its portfolio to $26 billion.

Meanwhile, Yale University suffered about a 30 percent loss in its portfolio, to $16 billion, the university’s president disclosed in a letter Thursday, adding that final figures on performance were still being compiled.

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