Word: bondses
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The first separation each senior adviser makes is to divide the smokers from the non-smokers, says Robin M. Worth '81, the south Yard senior advisor who coordinated the rooming effort this past summer. The advisors then separate the messy from the meticulous, and the socialites from the studious. From...
Hart's problems run far deeper than a simple desire to let loose of the bonds of mother and childhood. Anyone who has seen the infamous National Enquirer photos of Rice sitting on Hart's lap and a clearly blasted Hart playing the congas in a nightclub cannot have come...
Harvard's portfolio now holds more bonds than in the past and is taking "a historically low equity position" said Cabot, who would not specify the exact bond to stock ratio. The endowment has fluctuated since the market plunge, but currently remains at about the $3.85 billion level, he added...
"When the future is unclear as it is, it strikes me to be prudent to have a reasonably conservative investment position," Cabot said, explaining Harvard Management's increased reliance on interest-bearing bonds. "The possibility of a recession" makes for an unstable investment climate," he added.
Despite the endowment's market losses, Cabotsaid, the increased spending of endowment incomewill not undermine its long-term growth. Becausemore interest-bearing bonds are in the endowmentnow, the fund is generating more interest incomethan it did from stocks in the bull market earlierthis year. "We are better able to finance...