Wednesday, January 12, 2005

Do the Math, You Leftie Nutjobs!

This story only highlights how economically ignorant some of these stupid left-wing nutjobs who dominate academic campuses are. They are upset that Harvard University pays its money managers so handsomely, never mind that these managers have produced phenomenal results for Harvard's endowment, growing it by as much as 20% per year. Well sirs, I disagree with your objection. A good money manager is worth his weight in gold.

It's one thing to argue if returns after fees and costs were adequate, but to simply whine about pay independent of performance is NUTS!! Universities are tight on cash, and if a manager can help produce above average returns for below average risk, pay him ... heck, throw in a kiss as well!!

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