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Mac comments on Taking Effective Altruism Seriously - Less Wrong
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Good usage of marginal dollars is one of EA principles. Of course you can argue that those principles are wrong, but it's makes no sense to expect the EA community to defend people who don't follow their principles.
They lost 8 billion of it in 2008.
Harvard's endowment has performed exceptionally well. Here’s the data: http://www.hmc.harvard.edu/docs/Final_Annual_Report_2014.pdf
Endowments are managed with long-term time horizons. Therefore, cherry picking one year of endowment performance and generalizing investment skill from it is misleading and inaccurate.
Also, percentage gains and losses are a more appropriate metric to use when comparing investment skill between managers. Otherwise, a large endowment will seem riskier than a small one, even if the two endowment allocations are identical.