The people running America’s foundations aren’t as smart as they think they are

The way they invest their endowments demonstrates that

This will be a relatively short rant, er, post because it updates an argument I’ve made before: That foundations are doing no good by trying to outperform the markets when they invest their endowments.



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Marc Gunther

Reporting on psychedelics, tobacco, philanthropy, animal welfare, etc. Ex-Fortune. Words in The Guardian, NYTimes, WPost, Vox. Baseball fan. Runner.