Managing Large Sums of Money Not For the Faint of Heart

If you think you've lost a lot of money in the market this year, consider the hit that many foundations and university endowments have taken. Harvard University has seen its endowment lose some $8 billion this year. Crains Cleveland reports that The Cleveland Foundation's nest egg is at least $200 million dollars lower. In this week's edition of upside/downside we're going to hear a bit about the people who manage these enormous sums of money. The folks who manage things like pension funds, endowments, and mutual funds are known as Chartered Financial Analysts, CFA's. Last night the President of the CFA Institute gave a talk to members of the Cleveland Chapter. Jeffrey Diermeier spoke with ideastream®'s Eric Wellman.