Harvard needs 8% return every year just to keep the lights on. 5% spending plus 3% inflation. Miss that number and buildings stop, professors leave, research dies.
40% of the operating budget comes from one portfolio. Not tuition. Not grants. One fund.
Jake Xia manages that fund's public markets. He also teaches the math behind it at MIT for free. One of the top five most-watched courses on OpenCourseWare. Millions of views. Almost nobody changed how they invest.
Every year he hands students a blank page. Build a portfolio. No rules. Someone writes 100% Apple. Someone writes rare coins. Confident picks. Same blind spot, every time.
Not one student asks the only question that matters: how much goes in each position. They all pick what to buy. Nobody sizes it.
Sizing is the entire job. The answer won the Nobel Prize. It's called the efficient frontier. Xia draws it on the board in under a minute.
Five equations sit underneath it. Compound growth. Present value. The geometric mean. The Rule of 72. Real return. All older than any bank on earth. All fit on a napkin. None behind a paywall.
A "guaranteed 5% bond" during 4% inflation is a 1% return. The industry doesn't hide this. It just hopes you never run the equation yourself.
The lecture is free. The napkin is free. The only thing that costs anything is not knowing.
BREAKING: the House just passed my bill to make Daylight Saving Time permanent!
Leader Thune should bring this bill to a vote in the Senate so we can finally get this done.
More sunshine. Less depression. Let's finally lock the clock!
Trump fired all three remaining members of the Election Assistance Commission, leaving the agency with no commissioners just months before the midterms https://t.co/YNJjsNJsnE
A lot of people are asking “why hide McConnell’s state? Not like a Dem would win the special election?”
If McConnell vacated before August 3rd cut off it’d be a special election and any one can register as an independent…
Including Massie.
Which would split the Republican vote, giving him or maybe even the Dem the chance at the plurality.
But, if McConnell’s seat is not vacated before the 3rd by legally stepping down or a signed death certificate, then it’s too close to the next election and rules prevent a special election which bars any new registrations at this point.
With McConnell’s wife having travelled to China AFTER he was hospitalized, the next of kin isn’t available to sign off and so the bar for ending life support is extremely high (would require full brain stem death, which is not present in some patients who are never coming back)
So all they have to do is drag their feet until August 3rd, then tell you that he didn’t make it.
And in turn block Massie from disrupting an otherwise safe Republican seat.
Just like that fucking old turtle would have wanted.
Wow.
Sen. Chris Murphy (D-CT) floor speech on Trump Admin. corruption has now received 1 million views
He opens the remarks by arguing that Trump has turned the White House into a 24/7 corruption operation
https://t.co/0GEyvQd51z
Kagan's dissent is the legal document that will be read when historians examine what this Court did in this moment. She found that the majority's conclusion required setting aside comments that were "so repellent and racially inflected" that the Court itself would not reproduce them in its opinion - and then ruling anyway that those comments were insufficient evidence of racial animus.
The legal standard the majority applied: courts cannot question the process immigration authorities use to revoke TPS, regardless of the statements accompanying that process. The practical consequence: 350,000 people who have lived here legally, worked, built families, enrolled children in schools - exposed to deportation to a country where four women returned in February were found beheaded. Viles Dorsainvil, who runs a support center for Haitians in Springfield, Ohio, said families are going to work, kids are going to school, and the Court just put all of it on stop. The Senate has a bipartisan House-passed bill sitting in front of it. They could act today.
More than 40 years ago, I arrived in Chicago in search of an idea. I was a young man looking for purpose, who believed deeply in America, was inspired by the Civil Rights Movement, and wanted to be a part of something larger. The America I believed in was one where everyone has opportunity, everyone is seen, everyone belongs—because that was an America that had a place for me, too.
The sentence that should not be forgettable: Vought said he prepared Trump's executive actions so the president would not have to think about "whether something is legal or doable or moral."
That is not a staffer describing efficient workflow. That is the architect of the second Trump administration describing his function as the removal of legal and ethical friction before the president encountered it.
He was not hired to consider whether actions were legal. He was hired to make sure Trump never had to ask.
ProPublica got the recordings. That is what the recordings say.
BREAKING: Virginia Supreme Court throws out redistricting referendum results
So to be sure, US Supreme Court says Red states can ignore the will of the people and gerrymander their districts 9-0 in favor of MAGA Republicans
But VA Supreme Court says Blue states cannot put the vote to the will of the people and follow through on the people's vote to redistrict.
Once again, gerrymandering that centers white people is A-OK but gerrymandering that centers a broad base of voters is not. Absurd.
The recent Supreme Court decision in Louisiana v. Callais effectively killed the last remaining provision of the Voting Rights Act of 1965.
And it represents the life's work of Chief Justice John Roberts.
Here's how Roberts has been steadily working for more than 40 years to destroy the country's most important civil rights law:
Today’s Supreme Court decision effectively guts a key pillar of the Voting Rights Act, freeing state legislatures to gerrymander legislative districts to systematically dilute and weaken the voting power of racial minorities - so long as they do it under the guise of “partisanship” rather than explicit “racial bias.” And it serves as just one more example of how a majority of the current Court seems intent on abandoning its vital role in ensuring equal participation in our democracy and protecting the rights of minority groups against majority overreach.
The good news is that such setbacks can be overcome. But that will only happen if citizens across the country who cherish our democratic ideals continue to mobilize and vote in record numbers - not just in the upcoming midterms or in high profile races, but in every election and every level.
Take 82 seconds out of your day to watch this and pass it on, because it'll blow your mind: Memos show John Roberts tried to warn us about...John Roberts.
If you need proof that you’re living inside the most powerful propaganda system in human history, consider the fact that almost nobody can afford anything & yet this is somehow not — by far — the top issue covered by the press, discussed in politics or trending on social media.
This should be a much bigger story.
The Trump administration is about to hand TotalEnergies, a French oil company, nearly $1 billion of your money to cancel its American offshore wind projects. And they are pulling the cash from an account they are not allowed to use this way.
Here is how it works. The government has something called the Judgment Fund. Think of it as an emergency savings account for when the government loses a lawsuit or settles a real legal fight. It is not a checkbook the President can use whenever he feels like rewarding a company.
To get around that rule, the administration is pretending TotalEnergies was about to sue. But TotalEnergies had no case. The company signed a contract in January 2025 with clear rules: the government cannot cancel these leases unless it first pauses the project for five years. The lease is less than four years old and was never paused. TotalEnergies agreed to those terms. There was no real lawsuit coming.
So the administration invented a fake legal threat to justify raiding an account Congress controls. That matters because the Constitution says Congress, not the President, decides how taxpayer money gets spent.
It gets worse. The White House claimed TotalEnergies would take the money and reinvest it in American oil and gas. The actual paperwork, now public, requires nothing of the kind. The company gets a billion dollars of taxpayer money and owes us nothing.
So Americans are paying a foreign oil company to shut down clean energy projects here at home, using money that was never supposed to be spent this way, with zero strings attached. That is illegal, unethical, and a scandal hiding in plain sight.
I can’t even begin to fathom the horror of this injustice. A father’s primary purpose is to protect his family, even if it’s in two homes.
This isn’t a gun control, mental health, or society’s fault but the coward who can’t accept responsibility for his actions.
A father has killed eight children, including seven of his own, in the US state of Louisiana. The victims range from one to about 12 years old. The gunman, who was killed in a police shootout, has been identified as a US army veteran.
Leonard Leo is a lawyer, but he's never argued a case in court. He's never held elected office.
But for years he rebuilt the American legal system, resulting in the Supreme Court's right-wing supermajority.
https://t.co/8Qt9MWGc0r