[chrisk]

I mean, it’s fine.  Stanford’s time horizon is so long that they will never have to sell illiquid assets.

BC

In the annual reports, they are supposed to value illiquid assets at current value. As illiquid assets, you may not be able to sell them today at that price, so there is subjectivity involved.

Endowments have head problems with illiquid assets, particularly in the Great Recession. Stanford borrowed money to meet current requiements.

Harvard had big problems with illiquid assets in the Great Recession and took massive unrealized losses.

Did Harvard Sell at the Bottom?
https://www.forbes.com/2009/10/24/harvar...8a714a6c4a

[chrisk]

I mean, it’s fine.  Stanford’s time horizon is so long that they will never have to sell illiquid assets.

BC

In the annual reports, they are supposed to value illiquid assets at current value. As illiquid assets, you may not be able to sell them today at that price, so there is subjectivity involved.

Endowments have head problems with illiquid assets, particularly in the Great Recession. Stanford borrowed money to meet current requiements.

Harvard had big problems with illiquid assets in the Great Recession and took massive unrealized losses.

Did Harvard Sell at the Bottom?
https://www.forbes.com/2009/10/24/harvar...8a714a6c4a