Heh, heh . . .
Harvard’s endowment has been cited as a model for achieving high-growth rates, but one investment choice led to a staggering loss of at least a quarter of a billion dollars late last week after the collapse of former Harvard Management Company (HMC) bigwig Jeffrey B. Larson’s hedge fund.. . . they said "Sowood".
Larson’s fund, Sowood Capital Management, received an initial investment of $500 million from the University when he left in 2004. On Monday, Sowood sent letters to its investors explaining that the $3 billion fund suffered losses of more than 50 percent and had to sell off its assets to the Citadel Investment Group. - Harvard Crimson, August 1, 2007
posted at 6:53 PM
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