In my last post, I linked to an Op-Ed by Amherst President Tony Marx in the LA Times.  In the piece, he argues against a proposed minimum spending rate on colleges’ endowment funds.  His points are especially compelling given the state of the market.  For the record, I stand in basic agreement with his reasoning.
However, [...]

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President Marx writes in the LA Times:
But if the state of the stock market is any indication, the era of hefty annual — or even positive — returns for college endowment funds is likely to be over, perhaps for quite some time. It’s a good thing that colleges have been allowed to tend to our [...]

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