Informative investigation of Harvard University's daring investment style, which led to a dramatic setback this fall, with an estimated 30% reduction in its endowment, and heavy borrowing to offset its losses. This article is well reported and provides extensive factual evidence to support its findings, as well as helpful context. A few more independent sources would have helped.

A vivid example of what happens when one plays with fire. In the market no one person or institution is sacred. If you break the rules you will get hurt.

Experts in the financial field at Harvard did not see the stocks collapsing a year ago, which put at risk 30 percent of their $36.9 billion endowment. The story is not well sourced, though by now it is common knowledge what happened to this endowment. Worse, one of the most important piece of information was left to the end: "bad bet on interest rates," which dates back to a former Harvard president, who is in a high profile political position now. I believe Forbes could have had a stronger story by bringing this piece of information earlier.

Not just quality journalism, this is delicious journalism. So much fun to see the kingdom of arrogance fall on its face.