Dumber than average

That pesky blogger guy on the faculty down at the U of O has a funny post up this week about the geniuses who are investing the university foundation's money. Those guys get paid a big fee, and guess what? The school would have been better to just put the money in a stock market index fund, basically for free.

Over the past 5 years Southern Oregon University has earned 10.9% on its endowment, after fees. UO has earned 7.8%. What’s SOU’s secret? While UO has been paying out the butt for Foundation CEO Paul Weinhold and his investment expert Jay Namyet, SOU just left it up to the Oregon Treasurer, who apparently put 60% in the SP500 and the rest in bonds, as one would do.

Read the whole thing here.

UPDATE, the next day: Apologies for the bad link, now fixed. Thanks to the reader who pointed out my screwup.