The New Harvard motto...
Posted on 08/27/2002 2:24:26 AM PDT by Cincinatus' Wife
Edited on 04/13/2004 2:08:10 AM PDT by Jim Robinson. [history]
I harbor many doubts that a Gore administration would enforce this law in the same fashion.
Liberals. They stand on principles as long as their penises, which is not much.
Did I miss anything?
What a putzhead.
Congressman Billybob
I wonder if Clarke would agree with this corollary: ''A society that discriminates on the basis of political orientation - or that tolerates discrimination by its members - is not a just society.''
Now, if he can construct a few intelligent sentences in English, Mathew S. DelNero can post them here on FR, and join the debate!
Five-year performance remained strong. Harvard's endowment has averaged a 16.9 percent return and outperformed the median institutional fund - as measured by the Trust Universe Comparison Service - by 5.9 percent. That 16.9 percent return over five years translates to $10.5 billion in endowment income over that time.
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Harvard endowment beats benchmarks, value declines
By Alvin Powell
Gazette Staff
Harvard University's endowment beat investment benchmarks in eight of 11 asset classes in the fiscal year ending June 30, 2001, but saw its overall value fall amid broader market declines.
Investment returns fell 2.7 percent for the year, while the endowment's overall value fell to $18.3 billion. Also contributing to the endowment's decline was the annual payout of endowment funds for University programs. At June 30, 2000, the endowment's overall value was $19.1 billion.
Five-year performance remained strong. Harvard's endowment has averaged a 16.9 percent return and outperformed the median institutional fund - as measured by the Trust Universe Comparison Service - by 5.9 percent. That 16.9 percent return over five years translates to $10.5 billion in endowment income over that time.
Harvard Management Company President and Chief Executive Officer Jack Meyer said fiscal 2001's returns show the importance of taking a long view on endowment investments, which are intended to provide stability for University finances over a long period of time.
"Returns over the past 10 years have been sufficiently strong to provide a cushion against an extended rainy day," Meyer said in his annual "John Harvard" letter to University officials detailing endowment performance. "We remain confident in the ultimate resilience of both our economy and our financial markets."
In 2001, the endowment continued its recent trend of outperforming performance benchmarks. While returns on the endowment were negative 2.7 percent, this compares favorably with the overall benchmark, the Policy Portfolio, which fell 9.8 percent. The 2.7 percent drop also compares favorably to the median institutional fund, which fell 5.7 percent, as measured by the Trust Universe Comparison Service.
"Strong relative performance saved the day," Meyer said. "If we had not outperformed the benchmark by 7 percentage points, it would have been a deeply disappointing year."
As in the broader market, funds invested in equities declined during the year, while investments in bonds, real estate, and commodities buoyed the year's results. Asset classes that rose in fiscal 2001 include domestic bonds, up 19.1 percent; foreign bonds, up 13.2 percent; inflation-indexed bonds, up 13.3 percent; and real estate, which rose 10.2 percent.
This is the first year since fiscal 1991 that the endowment's overall value declined and the first time since 1984 that endowment investments have lost money. Factors other than investment earnings affect the endowment's value, such as new contributions and payout for University programs.
Harvard's endowment is the result of gifts to the University over time as well as investment income from those gifts.
Endowment income provides critical long-term financial stability for Harvard's academic programs. Historically, between 4 percent and 5 percent of the endowment is spent annually on Harvard programs. Endowment income made up about $615 million of Harvard's roughly $2 billion operating budget in FY01. That money provides for the specific activities that donors have endowed over time including financial aid, faculty salaries, and facilities maintenance.
Among other things, endowment income supports Harvard's generous student financial aid programs, which permit the University to admit qualified students regardless of their ability to pay.
The endowment is not a single fund, but more than 8,600 individual funds, many of them restricted to specific uses - such as support of a research center or the creation of a professorship in a specific subject. The funds are invested by the Harvard Management Company (HMC), established in 1974 to oversee the University's endowment, its pension and trust funds, and other investments.
Each school within the University uses a combination of income from investments, gifts from fundraising efforts, and tuition to cover the cost of educating students. Tuition from Harvard College, for instance, covers only about two-thirds of the total cost of a Harvard education. Harvard's reliance on support from its endowment has increased in recent years. Ten years ago, the endowment provided 17 percent of Harvard's operating budget. Today that figure is about 30 percent.
SO TRUE! I have three in college and you are RIGHT. Fortunatly my kids are VERY ultra conservative, and when my daughter who is 19 uses the word Liberal, she preceeds it with the word Damn! Damn Liberal! I love hearing her say that! She works her ass off in college, and she worked her ass off to get to college. I have explained to her that there are people who don't bother to even finish high school, yet they demand welfare money to live on, free everything -- while she will be working to get what she needs -- she will be paying for their lifestyle too. She resents liberals!
Society discriminates in many good ways. What these people don't get is that mixing people in close quarters in the military, and who have a sexual attraction to each other, isn't good for the military. The difference between the Jaycees, as an example, and the military, is that military people bunk and live together in very tight quarters. The vast majority of Americans understand this. Look at the Catholic Church. Lots of homosexual men priests together in tight quarters and lots of the seminaries have turned into homosexual brothels (and even worse - thousands of innocent teenage boys have been cruelly sexually molested). Same in the Boy Scouts. The problem is, people have lost their ability to make discernments and to use their common sense.
But amid all of this drivel, there is one quote that I think needs to be analyzed: "A society that discriminates on the basis of sexual orientation- OR THAT TOLERATES DISCRIMINATION BY ITS MEMBERS (emphasis mine)- is not a just society"
My totalitarian friends at Harvard obviously need a little refresher course on that little thing called "freedom". Obviously, this bozo believes that his concept of justice allows him to "not tolerate" other people's decisions about with whom they choose to associate.
And...while I'm at it...there is another outright lie in this article:
"The university does not have its own ROTC program on campus because of faculty oppostion to the military's policy on gays."
As I'm sure this dishonest reporter knows full well, most of the Ivy League schools (including Harvard, and my school, Brown) booted the ROTC programs off of their campus in the 60's...long before the gay issue was on anyone's radar screen. The REAL reason why the ROTC programs were kicked off campus--and remain off campus--is that the lefties who control the Ivy League schools detest the US military. The gay issue is a straw man that was only introduced several decades after the ban in order to cover for Harvard's distaste for the military and the uncouth people whom they assume make up most of its ranks.
The Harvard apparatchniks owe their freedom to spout insanity and inanity to people who are far braver and thoughtful and sincere and patriotic than they. They are far from where the heros lie.
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