What Not to Do With a $35.7 Billion Endowment

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Harvard Does a Trade You Should Never Make

The university with the biggest endowment in the world saved $50 million by hiring less expensive money managers -- but it also lost billions in investment returns. Barry Ritholtz says academic hubris and political correctness led to a series of terrible decisions that should provide big lessons for Harvard's leaders.

The Fed's Mission Is to Escape Jupiter

The Bank of Japan knows well the strong gravitational pull of the zero bound -- and it's a metaphor that its American counterpart should find relevant. Narayana Kocherlakota reminds the central banks that only a more powerful economic rocket can help them escape the lower bound. 

Hillary Clinton's Stop-Trump Pitch to Millennials

Young voters are increasingly throwing their support behind third-party candidates this election season, writes Albert R. Hunt, which could prove costly to the Democratic candidate. So Clinton's campaign is reaching out to millennial voters -- through digital media and a little help from Zach Galifianakis -- in the hopes of defeating Donald Trump.

Companies That Discriminate Fail (Eventually)

Is the corporate world still a boys' club? There's plenty of evidence that such discrimination, and many other forms of bigotry, still exists. But Noah Smith says there's also evidence that the market will help erode entrenched bigotry over time.

Good Schools, Bad Schools and Ugly Rankings

The constant effort in higher education to rank the best of the best of the best institutions results in, well, a lot of silly rankings. So what about the colleges that don't make those lists? Stephen L. Carter writes that cracking down on schools with low graduation rates will simply provide them with the wrong incentives.

Ritholtz's Reads

  • How does a mall cope when a big tenant like Macy's closes? (LA Times)
  • Oracle's cloudy future (Stratechery)
  • The Deflategate scientists unlock their lab (New York Times)

(Read Barry Ritholtz's full daily news roundup.)

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