Word: hmc
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...official close to HMC said recently that a lower return would not be surprising considering market trends and the endowment's unusually strong performance last year...
...Standard & Poor's (S&P) 500, an industry-wide measure of stock performance, was down 3.6 percent, and HMC's internal policy portfolio, the benchmark against which the HMC measures its own performance, was down 0.5 percent during this same time...
Albert F. Gordon '59, a major contributor of the University and a frequent HMC critic, said his fears regarding the endowment's performance in the current market were not assuaged by the letter...
...want to know how HMC is involved in derivatives and how it fared there," Gordon said. "I'm very suspicious about how they were able to not lose money while places like Kidder,Peabody got killed. With derivatives it is easy toavoid losses now by making them show up later, soI want to know specifics which they're notgiving...
Common Fund employees generally get lowersalaries than HMC's managers, Griswold said. Hepointed out that Common Fund merely farms outmoney for other companies to manage, while HMCmanages the money itself...