Economy strikes America’s richest university

Harvard, like other Ivy Leagues, is considering its cost-cutting options

BOSTON - You know the financial meltdown is bad when even Harvard is feeling the pinch.

Harvard — America's oldest university and the world's wealthiest — helped pioneer a model of diversified endowment investing that many colleges have copied, branching into exotic investments like timber and private equity. When most schools were sticking with stocks and bonds, Harvard was buying forests in Maine and slices of startup companies financed with venture capital.

Now, the question is whether those practices have cushioned — or worsened — the blow from the latest downturn.

Read full story MSNBC

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