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Why Harvard is disappointed with Private Equity

“I would characterize our Private Equity performance this year as fair. Private Equity (which includes venture capital) returned 11.0% for the year, a strong nominal return, but well below the return on public market equity, and only slightly above our benchmark. When we invest in private equity, we lock up Harvard’s money for multiple years. In exchange for that lock-up we expect to earn returns over time that are in excess of the public markets – an “illiquidity premium. Over the last ten years however, our private equity and public equity portfolios have delivered similar returns. While this asset class still presents unique opportunities for attractive returns, it has gotten much more crowded and there is less of an illiquidity premium. As a result, we are actively focused on honing our private equity strategy.”-wrote Jane Mendillo, who is president and CEO of the Harvard Management Company

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Message from Dubai Realty Company

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Google Search:Reunion

Stuck by how important Google has become in our lives

 

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Observations

Forget stocks, the real bull market is in veggie prices

45.67%

This figure is not the return of any stock or investment.This figure is the increase in retail vegetable prices in October y-o-y

How can any ordinary investor inflation proof his savings with such high persistent and sticky inflation in food prices?

Maybe Jim Rogers was right after all:

 

Young people who have not decided on their futures should pursue agriculture degrees rather than MBAs, investor Jim Rogers told CNBC in a recent interview.

 

The reason? “Finance is in decline. In the future, the center of the world will not be finance — it’s going to be the producers of real goods.

 

 

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Image:Short Sellers today explain their trading plan

Hat Tip Steve Burns