August 8, 2010
Have Colleges Flouted the Prudent-Investor Rule?
Over the past year and a half, many colleges have seen their endowments decline by as much as 30 percent, and their investment income cut even more. Staff members have lost jobs, student fees have escalated, and parents have had their financial planning severely disrupted. Much of the loss may have been caused by debatable investment practices. The question thus arises whether colleges have violated what is commonly known as the "prudent-investor rule."
Colleges, like other
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