[monday]

"Harvard Management is a famously profitable enterprise, where fund managers have made as much as $US10million a year. The endowment fund, which had $US18.3billion under management as of June 2001 "

Thats a less than 1% return. Sorry, guess I am not impressed. Harvard Management must be staffed with idiots to do so poorly.

[vooch]

not their returns on capital.......the wages of the employees.......

[thinden]

...fund managers have made as much as $US10million a year

not a bad return for the fund managers' pocket books. I don't see anything about Harvard's ROA.

p.d. it would be interesting to know who the fund manager was that put Harvard into Harken (surely not former alex brown hand, buzzy k?)