"I though it was a brilliant talk filled with substance, energy and vision," said Provost Harvey V. Fineberg '67. "I think it was terrific, inspirational to everyone here."
Among the major donors in attendance were Katherine B. Loker, Sidney R. Knafel '52, Paul A. Buttenwiser '60 and Elizabeth and Carl H. Pforzheimer III '58.
Rudenstine drew upon some recent Harvard history to offer a sobering reminder that no matter how large the endowment may grow, "fortune is fickle" and alumni generosity is indispensable.
Rudenstine reminded listeners that in 1992 the University had a $42 million deficit and that in 1991 it wrote off $200 million in endowment losses. The average endowment return from 1998 through 1991 was a meager 6.6 percent, he added.
Rudenstine said that neither the gloom of yesterday nor the glitter of today will last, and that Harvard, in order to "be here forever," must plan soberly for the future and then stick to this path.
"That means setting a course which can be maintained with real consistency through any number of vicissitudes: 'Calm rising'--as our hymn has it--'through change and through storm,'" Rudenstine said.
The University Campaign Leadership Forum ran Friday and Saturday. Attendants arrived on Friday evening and attended various gift and leadership dinners.
Prior to Rudenstine's speech on Saturday, Harvard officials conducted panels on various aspects of running Harvard. Jack R. Meyer, president of Harvard Management Company, presented "Managing Harvard's Endowment" and Anne H. Taylor, vice president and general counsel, spoke on "Legal Problems Facing Harvard."
After the speech, alumni were bused to the Briggs Athletic Center for lunch and then watched Harvard beat Princeton, 14-12, on the football field.