Wednesday, October 27, 2010

Pound Foolish in Cambridge

Harvard let a bunch of anti-capitalist rabble-rousers drive its best-in-class endowment manager Jack Meyer from his job managing Harvard's money. Well, Meyer is off on his own, doing quite well for himself and his clients, while Harvard lags. Every aspect of the institution is ultimately poorer for the decision to let a few people complain that Harvard paid one of the best in the world commensurate with his abilities and results. Harvard chose to pay for mediocrity and it is getting it. I hope all those nimrods are happy.


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