In this episode of the Odd Lots podcast, the hosts delve into the performance and strategies of university endowments, focusing on Harvard and the University of Texas. They chat with Janet Lorin, a Bloomberg reporter who specializes in higher education finance, to discuss how endowment investing has evolved over time. The conversation contrasts the investment approaches of Harvard and Yale and examines how recent controversies have affected Harvard's fundraising and overall performance. The episode emphasizes the crucial role endowments play in university budgets, the complexities of managing large portfolios, and the unique strengths of the University of Texas' endowment, which benefits from oil revenue and a well-diversified investment strategy. Additionally, the discussion addresses criticisms of private equity investments and the changing dynamics between universities and their alumni donors.
