Plagiarism: Separate But All Too Equal
Another sign of the impending demise of the research assistant? (What does it mean to be unable to idenity six paragraphs of writing as not one's own? The senility of over-reading?) Link at bottom.
The news isn't all bad for Harvard. Steve Bailey of the Boston Globe is defending the practices of Harvard's investment office:
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What has made Harvard different all these years is it managed most of its money in-house rather than hiring outside managers, as most institutions do. Change would probably mean making Harvard look more like everyone else. Harvard is already well down that road: Today about half the money is managed internally, down from 85 percent eight years ago. The big money still inside is managed by Maurice Samuels and David Mittelman, the fixed-income guys. The two also happen to be Harvard's biggest public relations problem; together they made $69 million last year.
But the critics should be careful what they wish for. The bottom line in investing is not what you pay in fees, but what you get to keep at the end of the day. By that measure, the system has served Harvard well. Over the past 10 years the university ranks third among more than 400 other institutions, with an average annual return of 14.7 percent. Here is another way to think about that: Middle-of-the-pack performance would have left Harvard with an endowment about half of what it is today.
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The news isn't all bad for Harvard. Steve Bailey of the Boston Globe is defending the practices of Harvard's investment office:
____
What has made Harvard different all these years is it managed most of its money in-house rather than hiring outside managers, as most institutions do. Change would probably mean making Harvard look more like everyone else. Harvard is already well down that road: Today about half the money is managed internally, down from 85 percent eight years ago. The big money still inside is managed by Maurice Samuels and David Mittelman, the fixed-income guys. The two also happen to be Harvard's biggest public relations problem; together they made $69 million last year.
But the critics should be careful what they wish for. The bottom line in investing is not what you pay in fees, but what you get to keep at the end of the day. By that measure, the system has served Harvard well. Over the past 10 years the university ranks third among more than 400 other institutions, with an average annual return of 14.7 percent. Here is another way to think about that: Middle-of-the-pack performance would have left Harvard with an endowment about half of what it is today.
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posted by hellisotherpeople at 7:45 AM
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