U. of Chicago Questions Some Endowment Investments

As financial markets dropped last fall, members of the University of Chicago’s investment committee clashed over whether the investment strategy for the institution’s $6-billion endowment was too risky and volatile, The Wall Street Journal reports today. According to the newspaper’s inside account of the battle, the university sold $600-million worth of stock to buy safer instruments, “an unusually abrupt no-confidence vote in its portfolio model.”