Harvard Cuts Risk, Loses Bond Managers - WSJ.com

One interesting tidbit from the article is that Harvard now has a net cash position instead of margin.

They are also shying away from investments that aren't as liquid, such as hedge funds and private equity, and keeping more under their own control, as opposed to placing it with outside managers. .

I consider these prudent moves for anyone. You don't want to be in a position where you are forced to sell.
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