Word: sowoodã
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Dates: during 2007-2007
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Harvard’s endowment sits at $29.2 billion as of the most recently-reported figure by the University. Sowood??s collapse may have resulted in a loss of as much as $350 million for Harvard, according to The Wall Street Journal...
According to Larson, Sowood??s portfolio was experiencing losses in June—due to pessimism in the credit market—that were worrisome for the firm but still “manageable” due to the fact that the fund’s collateral was still valued highly...
...wrote that he blames “extreme market volatility” for the rapid decline in value of this collateral at the end of last week, and other investors’ attempts to sell off the same assets hindered Sowood??s ability to minimize its losses...
University spokesman John D. Longbrake declined to comment specifically on Sowood??s collapse, but said that hedge funds are just one of the methods by which Harvard protects against investment losses...
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