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Sunday, July 12, 2009

Schadenfreude

From Vanity Fair:
From Yale to Princeton, Columbia to Cornell, budgets are being slashed and construction cranes idled as university investment managers confront their worst losses in a generation. Just the concept of having to balance a budget is a relatively unfamiliar one for many university presidents, who have enjoyed years and years of double-digit investment gains.
Cry me a river.

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