No greens for crimson

A few weeks ago, Nobel Laureate Al Gore came to visit our campus to officially inaugurate the new initiative to make Harvard University environmentally friendly. The following banner can now be seen everywhere around the university.

Crimson is a reference to the university colors and sports teams, The Crimsons.

Not too long ago we got an email from the president of the university announcing how, thanks to the economic disaster, things were going to get ugly here. Harvard’s endowment has been managed very conservatively and successfully through its history, making it the richest university, attracting people like me to do do research. About $$frac{1}{3}$$ of the employees here get paid from the profits generated from the investments of this endowment. With the market crash, there is now place to make money, no matter how safe you play it.

Yep, no greens for crimson.

The news hit the main media of how big the losses have been. And they have been big.

Harvard Endowment Fell 22 Percent in Four Months

Harvard’s endowment—the largest in higher education—fell 22 percent in four months from its June 30 value of $36.9 billion, marking the endowment’s largest decline in modern history, University officials announced yesterday.

The precipitous drop will require Harvard’s faculties to take a “hard look at hiring, staffing levels, and compensation,” wrote University President Drew G. Faust and Executive Vice President Edward C. Forst ’82 in a letter informing the deans of Harvard’s losses.

What is the impact that these news will have on my fellowship? I don’t know.

Author: minustwofish

I am a quantum physicist.

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