Bleeding from UVA endowment stanched
After losing a whopping $1.3 billion in five months, the red from UVA's endowment has slowed to a trickle. The University of Virginia Investment Management Company reports a mere $30.5 million in losses in December, and the endowment valued at $5.1 billion June 30 is now worth $3.88 billion. UVIMCO remains committed to riskier investments, and notes in a commentary that the pool has made 10.5 percent annually over the past 10 years.
2 comments
a million dollars a day...
A THOUSAND million since June.
Too bad these fools didn't take economics 101. Buy low sell high..
The reason they got 10.5 percent was because they TOOK ON TOO MUCH RISK.
The state should cut their budget more and maybe they will be a little less careless with donors monies.
When people say they can't find parking downtown, they mean FREE parking. There's plenty of paid parking. It's not about the convenience of parking right outside the store---look how far people are willing walk from their car to some shop in the Facist Mall.
People're just cheap.