Professor Elam

Harvard Stanford and Yale are all down about 25% in their endowments, as a result of the last year alone.

Now Stanford wants to sell some of its illiquid investments, good luck guys. As I have said in class, this recession will cause long term adjustments, most folks have not grasped the extent of these changes but we are making the case on this blog, GM and Chrysler in big trouble, the banks still at risk, and college endowments in trouble. While the big guys can weather this, the real problem is with the small colleges, losing say 25% of a few million is  a real problem.