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Explaining Harvard's Cash Crisis

Source: Boston Globe Posted By: Cat B...3527 days ago

Many have wondered how Harvard University, with its billions in endowment, could end up facing such cash difficulties, even after taking a large endowment loss in the last year. The answer, revealed Friday, is that it turns out Harvard placed the funds it used for current cash payment -- about $1.8 billion -- in its endowment fund, making those funds much more difficult to use, The Boston Globe reported. Standard operating principle would have had much of that cash on hand and not in investments,....

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