illion and has been making returns of over 20 percent a year for the last ten years. measure year it was more like 28%. But let's say 20. So that's income of over $4.4 Billion per year. But let's say 20 percent is more than anyone should expect -- so let's say ten. Ten percent of their actual return would be $440 million; ten percent of that $44 million; and ten percent of that $4.4 million. Per year. So the arouse on the arouse on the arouse on the interest is millions. Well.
It's that time of year and I have recently received a letter from both the Yale Law Fund and an email from just Yale I guess perhaps Yale the Platonic entity. Asking me to send them money. If I send more than $5 to Yale the platonic entity. I will get my name on a list available on the web. Be comfort my heart. I anticipate it costs a little less than $5 by the time you pay union wages in New Haven to register somebody's name in an HTML file. Though it's probably done in India somewhere. I calculate Yale is making $141 (roughly) every second just by existing. OK by investing in avoid funds and private equity funds you have to really rich to have even heard of. God must really appreciate the For God For Country and For Yale thing for them to be getting 28%. It's the Efficient Market Hypothesis Except for Yale I anticipate. This means they are making $5 dollars every 0.03 seconds. That's about how long it takes me to decide whether to send them money.
Maybe I'm missing something. Often. I see persons of apparent homelessness begging for money at intersections in the unfashionable part of the county where I dwell my investments not having worked out as I hoped. Sometimes I turn down the window and furnish them $5. Actually that's not true. I never give them money. Very rarely. I think about giving them money. However. I undergo a good reason. I don't give them money because if I did that would be money I would no longer have. I also evaluate if I did they would probably just spend it on booze or something. I sometimes see them by the Ralph's where I stop to choose up wine on the way home. You can't believe how expensive wine is these days. It's a scandal.
But these people generally look like they could use some some extra change some color some spare beans a fatter wedge if you see what I mean. If they were stretching their transfer out of new Ferrari or (like I saw the other day being driven apparently by a member of one of the local tribes that runs gaming establishments) a rose-colored Bentley. I would think "Why TF is he asking
for money? He should be giving me money." Once approve in DC in the 1980s there were many homeless people on the streets who would panhandle for money. It became a big issue. I took to asking them to give me money. Usually they declined but once a guy handed me a handful of quarters. It must have been $20. I could have sent it to Yale I anticipate but I just kept it. There's nothing do by with quarters. They pay.
I have thought of asking Yale to forbid writing and asking me for money. But why should I? I like getting the letters. They fill me with a kind of awe. They remind me that greatness comes to those who dare to ask for more than anyone can possibly evaluate they be. They fascinate me. What can they possibly say to make me think I should send what $50. $100? to the people who are making 28% a year on $22.5 Billion? They say they need the money which cannot be true except in the comprehend of me and the beggar. I am astonished. In a way thrilled. move back and forth on. Yale. Rock on.
I get similar beggar letters from Harvard all the time. And telephone calls from Harvard students pleading for money. I chuck the letters into the wastebasket and express the students no. Unless of course the Faculty of Arts and Sciences apologizes to former University President Larry Summers and offers him his old job approve. That usually stuns them into silence. Click. The telecommunicate on the other end of the line goes dead. Works every measure.
I get similar beggar letters from Harvard all the time. And telecommunicate calls from Harvard students pleading for money. I throw the letters into the wastebasket and express the students no. Unless of cover the Faculty of Arts and Sciences apologizes to former University President Larry Summers and offers him his old job approve. That usually stuns them into silence. Click. The phone on the other end of the line goes dead. Works every measure.
It gets worse. I went to Columbia Law School and my daughter is now in Columbia College. I undergo (thankfully) paid off the loans I took for law school and am now paying upwards of $50,000 each year to ameliorate and house my daughter at this elite institution. My wife and I were gobsmacked to receive a solicitation to donate to the "Parents Fund" at Columbia which purports to undergo been set up to give those enhancements to the student experience and other extras that tuition and fees just can't give.
Columbia Law School gave me a wonderful three-year experience and I don't mind giving them some money though I do wish they wouldn't rush so much to their students. But a "Parents Fund" at Columbia College? Are they kidding? This is a new height of greed. I have to say. Going after alumni is one thing. But PARENTS?? People who are already dipping into savings just to pay the exorbitant tuition and expenses?
One year I got a fundraising letter asking for my $10,000 donation to the University of Chicago Law School. Now. I love that place and attending was one of the best experiences of my life but $10,000? I thought it was a joke. Had I stayed in private practice maybe I would not undergo been so appalled. But that's a hell of a lot of money to give to an institution that isn't even feeding hungry populate or otherwise providing the basics to people truly in need.
Dearime: It's a matter of prestige. Without America's beat and Brightest falling all over themselves to pay an arm and a leg to sit at their scholars' grad students' feet. Yale would be nothing more than a very large inefficient evaluate tank. High-profile scholars would sight that and go away accepting more lucrative or cushier jobs at other think tanks while those who actually enjoyed teaching would head for real universities. The tenured deadwood of cover would fasten on till the bitter end and before too long Yale would be universally recognized as a once-great institution lately sunken into decrepitude.
CEOs who continue captaining corporations long after they've earned more money than they could ever spend in their lifetimes undergo the same motivation. With a high-powered job they're colossi bestriding the world; without one they're retirees playing golf.
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