TITLE

When Genius Failed

AUTHOR(S)
Condon, Bernard; Vardi, Nathan
PUB. DATE
March 2009
SOURCE
Forbes Asia;3/16/2009, Vol. 5 Issue 4, p30
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on the crisis situation, faced by Harvard Management Co., the subsidiary that invests Harvard University's money. Harvard Management had derivatives that gave it exposure to $7.2 billion in commodities and foreign stocks. With prices of both crashing, the university was getting margin calls--demands from counterparties for more collateral. Desperate for cash, it went to outside money managers begging for a return of money it had expected to keep parked away for a long time.
ACCESSION #
37251603

 

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