Dec

28

Context

December 28, 2023 |

back to the old days. a certain university indicated pleasure with their 2.2% return in yr ending june 23 in the Context of the S&P and Nasdaq returning 20%+ each during the period. they praised the fund managers.

too terrible to be true. were mainly invested in venture capital and private equity. apparently they never heard of the Context of ever changing cycles. Dare I suggest Bacon professional turf handicapping or edspec to them.

a loss of 20%+ on 50 billion endowment versus their bogey could pay for much DEI research. The arrogance of their slapping themselves on the back for the Context of this performance is too horrible to believe.

A reader writes:

Imagine the fees they are paying for that pittance of a return.

Vic continues:

that goes without saying. they are past masters at paying their fund managers fantastic salaries and bonuses based on their sector comparison.

Vic's twitter feed


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