THE staff opinion is correct in arguing for greater oversight of Harvard's investments. But its language conveys an unjustified contempt for the University's overall investment strategy.
The salaries of "investment jockies" are irrelevant to the question of responsible investments. Furthermore, Harvard's role as a "major player in the nationwide venture capital market" is hardly incompatible with its role as an educational institution. Quite the contrary, the profits that University officials reportedly "slobber over" enhance Harvard's ability to educate.
The majority opinion--despite its inflated language--fails to address these points.
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Prop 1-2-3
