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Open original source ↗Endowments are largely illiquid.
The federal funds crunch has prompted Harvard and Yale to start borrowing with bonds and selling their stakes.
The long term outcome is the end of the US university system as we know it. https://t.co/YriL7RV5xF
This piece reports that 83% of Harvard’s endowment is in PE and hedge funds, so despite their paper wealth they have a cash crunch. They are offloading stakes and issuing bonds because they need to replace billions in federal funding.
https://t.co/KfOjdPecsK https://t.co/9uh43Egtcz
This source calculates that Columbia and Cornell are the most badly hit by the liquidity crunch. https://t.co/uy9Xx1LPzm https://t.co/Vo3lot7vNI
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Just hung out at Stanford Friday evening and with a friend from CalTech today. The depression levels are high. Labs disappearing from lack of funding. Nobel Prize winners not safe. Are the schools really not going to backstop this with their billions?
ashleevance ↗