Harvard President Gay Goes From Frying Pan To The Fire

Portfolio Armor's Photo
by Portfolio Armor
Monday, Dec 11, 2023 - 1:41
Claudine Gay
Harvard President Claudine Gay testifying before Congress last week.

A Rough Year For Diversicrats Continues

It's been a rough year for the Diversity, Equity, and Inclusion crowd. First the Supreme Court ruled against Affirmative Action last summer, then Harvard  President Claudine Gay and her fellow Ivy League leaders got caught flatfooted by their Affirmative Action admits' pro-Hamas protests. Now it gets even worse for President Gay: Chris Rufo and Chris Brunet just argued on X that Gay plagiarized her PhD thesis: 

The full quote from Harvard's plagiarism policy is: 

When you paraphrase, your task is to distill the source’s ideas in your own words. It’s not enough to change a few words here and there and leave the rest; instead, you must completely restate the ideas in the passage in your own words. If your own language is too close to the original, then you are plagiarizing, even if you do provide a citation.

Back to Rufo's thread: 

Early Reactions: Bill Ackman Is Happy

Hedge fund manager and Harvard alumnus and donor Bill Ackman, who had previously called for Gay to resign, is happy. 

Earlier on Sunday, Ackman had posted his letter to the Harvard board calling for the university to shut down its DEI office. 

In Case Ackman Decides To Hedge

Contrary to their name, modern hedge funds often don't do much hedging. But if Bill Ackman decides to hedge, he may want to give the hedged portfolio method a try. We mentioned it here a couple of months ago. 


Here's a more recent real-world result. In early June, our system constructed this hedged portfolio for an investor with $3 million who wanted to limit his risk to a decline of no more than 30% over the next six months. 

Screen captures via Portfolio Armor.

And here's how that portfolio performed over the next six months: it finished up 11.28%, net of hedging and trading costs, while the market was up 8.02% over the same period. 

Bill can find an interactive version of that chart here


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