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...Last June, Chais even wrote his investors a letter saying he was ill and should he get worse his son, Mark, who lives in Israel, would take over the investment business, which by my estimates handled between $500 million and $1 billion. Some were smart enough to pull out then, others, like my wife and I, continued to trust. If we pulled out, where would we put the money? In the caving stock market? In sinking real estate? In the bank? This seemed like a much safer bet, a bet that returned for over 30 years...
...Though it would have been a good time to do so, the letter, the first real direct communication (other than quarterly account statements) we ever received from Chais, did not mention Madoff but just that "the relevant brokers" had been notified, as if there were others besides Madoff - which there were not, as we all learned six months later. It certainly didn't mention that Chais was just pretending to be the great Wizard of Wall Street. He did, however, make it clear that anyone was "free to withdraw part or all of their money" at quarterly withdrawal dates, which...
What’s the four letter word uttered by almost everyone who entered Science Center C today for the Boston Crossword Puzzle Tournament...
...This certainly resonates at Harvard, where student ambitions drive them to absurd, unhealthful behavior as a matter of course. One student I know put himself through the gauntlet of a 14-hour-per-day summer lab job pipetting in the hopes of snagging a future Harvard Medical School admissions letter; another suffered an existential crisis because he felt that none of his extracurriculars were sufficiently frivolous enough to show employers he could have fun. The anxiety runs deep—next Wednesday, the Office of Career Services will attempt to soothe those whose goals have been dashed with a panel...
...just as excited to join the world of dorm rooms, frat parties and communal bathrooms as were the many classes that came before them. "Oh man," says Mark Harber, an 18-year-old from Tulsa, Okla., who joined Vanderbilt's 2013 group within hours of receiving his acceptance letter. "I can't wait...