Word: caboteers
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...Greek mythology, Aeneas is a figure who constantly runs into tribulations, but comes out a hero in the end,” Cabot says. “I thought that captured the role of investing...
During his 16-year term as president, Cabot steered HMC through the market crash in 1987 and cast the company—the first university management company of its type—in an unconventional mold. He globalized the HMC portfolio in the late 1970s and started investing in private companies and venture capital. Cabot says his investments were sometimes criticized as risky. But, by the time he stepped down in 1990, the endowment had grown to five times its initial size...
...Walter...led the company into many innovative investments including venture capital, real estate, oil and gas, security lending, and index arbitrage,” says Jack R. Meyer, who succeeded Cabot as the HMC president...
...Harvard Corporation, the University’s highest governing body, invited Cabot to take the nascent HMC’s reigns in 1974. At the time, he was working as a managing director at Wellington Management Company—but moving to Harvard, he says, seemed an irresistible opportunity...
...Today, Cabot traces the roots of his life at Harvard all the way back to kindergarten. Growing up in Dover, Mass., where he continued to live for much of his life, he befriended Robert Leeson, Jr. ’55 and Ralph B. Williams ’55, two fellow students at the Charles River School. The three friends eventually went their separate ways—only to be reunited, to their surprise, as Harvard freshmen under the roof of Straus Hall...