For those of you with a healthy sense of schadenfreude, Harvard University's endowment dropped $350 million in the last month, reports the Wall Street Journal. Harvard's endowment management firm is usually seen as "trail-blazing" in its management of the school's $29 billion, says the Journal, so this misstep of an investment in Sowood Capital, a hedge fund firm set up by Harvard's former foreign-stock holdings manager, was something of a surprise.
We've all lost a few bucks here and there in an office pool, but $350 million? Really?