Why do large non-profit endowments, like the Whitney Museum of Art, yield terrible returns? A scrapped portion of a study on the success of funds previously suggested that funds geographically closer to Wall Street performed worse than average, which Clark Filio speculates may be because of greed and recklessness. Since the money used by non-profit board members didn’t come from their own pockets, he thinks they’re more likely to spend it on risky financial products peddled by Wall Street fund managers.
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The Lightyear O is a revolutionary electric car powered by the sun. Developed by a Dutch startup, the four-door sedan has over 50 square feet of solar panels on its roof and hood, generating up to 43 miles of energy a day. With production now underway in Finland, the car does come with a hefty price tag at $262,000, but the company hopes to introduce a more affordable version, the Lightyear 2, by 2025. Read full article here