January 18, 2002

Betting the Endowment on Risky Investments

By JOHN L. PULLEY

Eager for high returns in tough times, colleges are putting more money into hedge funds

Endowment managers, unsettled by the brutal investment markets of the past 18 months,

ALSO SEE:

Hedge Funds: an Introduction

The Basics of Short Selling

have put much of their own money into

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