October 17, 2009

THE BEST AND THE BRIGHTEST: Harvard admits to $1.8b gaffe in cash holdings: Operating funds were lost to stock, hedge fund trades. “Harvard University, one of the world’s richest educational institutions, stumbled into its financial crisis in part by breaking one of the most basic rules of corporate or family finance: Don’t gamble with the money you need to pay the daily bills.” (Via NewsAlert).

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