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.
I was 27kg overweight, had a visible belly and double chin, and I needed to reach 13% body fat before summer ended.
I achieved it with these 26 rules:
1. STOP RUNNING (for your knees).
RFK Jr continues to GUT food safety standards and Big Ag is gearing to fund measures that lower standards as long as the Trump Administration is in their pocket.
We’re just one account, but we need to beat the drum before more people lose their lives for corporate profit.
Pat Summerall: "Nowhere are the fans more active or more vocal than they are in Washington."
John Madden: "Anytime you have a big game - and the Redskins over the years have been in a lot of big games - there's not a lot of better places to have it than right here at RFK Stadium. This is one of the good scenes in the NFL. And it's on grass and it's open... kinda reminds you really of what football is and what it's all about."
Things absolutely unheard of in the commie era. This description of Washington football is like something out of a parallel universe.
It's all dead now... everything that made us fall in love with the Redskins and that defined Washington football. The entire identity right down to "it's on grass and it's open." All ripped out and discarded bit by bit since 2020, accelerating in 2022 and culminating in 2030.
These Black kids told these Latino neighbors to stay in their place because ICE was around looking for immigrants.
So the Black kids all armed themselves with buckets of water, water guns, all the water they could get & threw it all over the ICE “agents”, the agents got so soaked they left.
I love Black people, thank you for being protective of our community in the funniest way.
Kerry Wood took the mound at Wrigley for the first time in 14 years for #BananaBall and threw an incredible behind-the-back pitch for a strike @WGNNews@TheSavBananas#Cubs
Hey America, they’re making it so easy for you. If you agree with Tom Homan here, vote Republican in November. If you disagree with him, vote Democrat. It’s that easy.