Word: liquidityã
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...double-digit yearly investment returns, largely due to its heavy exposure to alternative asset classes, which include real estate, private equity, timber, and other commodities. Such investments added long-term value to the endowment and brought sustained growth in previous years, but also reduced the portfolio’s liquidity??meaning that the University’s assets became more difficult to sell and convert to cash on short notice...
...drop the back-to-back bombs of “Yeah, I went to Harvard…no big deal,” and “Sure, I conducted some structured debt capital equity raisings yesterday for a Fortune 500 company and made about $200,000 in simple liquidity??no big deal,” and then have a one night stand with her. The actual meanings of these terms are not important, but the idea behind them is that you work an important job involving lots of money and long hours in an important building...
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