Marc Seidner, the head of U.S. fixed-income investing at Harvard University’s endowment, plans to resign.
Harvard has said it estimates its endowment will fall approximately 30 percent in the year ending June 30, leaving assets at about $25.8 billion.
You live by Keynes, you die by Keynes. Harvard management clearly hasn't kept its eye on M2 money supply.
Wenzel,
ReplyDeleteI loved this:
You live by Keynes, you die by Keynes.
Sounds like the slogan for some upcoming action-epic.
"In a world that's turned logic on its head and kicked reason to the curb, one man living on the edge of orthodoxy will do whatever it takes to turn the world's economy around. But he's about to find out, that if you live by Keynes, you die by Keynes. He is, The Economist. Coming July, 2009."