And I think it’s reasonable to be skeptical of the logic that calls for you to reinvest the extra gains back into the endowment during good times, and calls for an injection of new capital into the endowment during bad times.
— Neil S. Oatsvall (@DctrNO) April 9, 2020
from Twitter https://twitter.com/DctrNO
April 09, 2020 at 10:26AM
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