Bill Herbert

Copying Harvard

>>they might be quite attracted to an opportunity where all those fees go to their alma mater<<

That's a very good idea, one that had occurred to me as well.

Many of the very-rich end up leaving something to their school - this would be a way to invest along with the endowment fund, and let them keep the fees the rich guy would otherwise pay.

Not to mention that many endowments have done better than most hedge funds - of course, some have done worse, and there have been a few big embarrassments. Such is life, I guess.

Endowment funds are sort of like hedge funds - except without all the crazy compensation and the reckless swings in the markets.