“The most frequent argument for having a big endowment is that it’s supposed to tide schools over tough times. It sure isn’t working out that way. Between July 1 and Nov. 30 last year, endowments at 435 surveyed schools lost 23% of their value.”
“The most frequent argument for having a big endowment is that it’s supposed to tide schools over tough times. It sure isn’t working out that way. Between July 1 and Nov. 30 last year, endowments at 435 surveyed schools lost 23% of their value.”