aqualung wrote: ↑Thu May 21, 2020 8:06 am
Rokawaylifer wrote: ↑Wed May 20, 2020 10:25 pm
FUBeAR wrote: ↑Tue May 19, 2020 9:40 pm
This reporter, Mr. Hartsell, despite being a bellhop mouthpiece, usually knows what he’s talking about...
Bear, do you know why the June 2019 valuation was quoted? Perhaps last reported financials? I’m not following the arithmetic or maybe it’s the timing of the financial reporting. Also, since I would assume most of this reporting is done on a quarterly basis I’m assuming whatever losses Are reported are based on March 31, 2020, valuations. Hence, my confusion about the mention of June 2019. I do believe the s and p 500 hit a 52 week low of 2234 on March 26, 2020. It is now as of this writing, close to 3000. While I understand the endowment is not totally invested in equities, I assume they make up a sizable percentage of it. I still just don’t understand the reference In the news release to endowment losses as a cause for cutting funding for sports. I understand the rest of the explanations, but am struggling with that one.
I agree. This whole situation is inexplicable. Yes the timing matters. But if you assume the endowment paper loss of $100M that was quoted was near the bottom, then it would now be down only approx. $35M. But regardless of that, we just ended a historic 11 year bull run. We all understand that most of the endowed funds are restricted for specific uses, however I believe that as part of the charter a certain percentage can be used for general purposes such as OPEX and to fund reserves. Where the hell are the reserves? We should be well positioned liquidity wise after the substantial gains of the past 11 fricking years!! This looks like we were living paycheck to paycheck and the car transmission just broke so we're selling some plasma. Or, Warren Buffet retires, then his portfolio takes a $10B hit, so he decides he has to go back to work. This is either mismanagement or, as others have stated, this was already in the works as a larger movement away from athletics. Either case is very troubling. I say FU on this entire situation!
The POINT of posting that Tweet was that Mr. Hartsell, who usually knows his stuff, says he’s hearing other SoCon cuts are coming. The endowment Tweet ‘tagged along’ cuz Hartsell’s Tweet was a reply to it.
So, no, I don’t know nuthin’ ‘bout it. I know O-Line & Recruiting (bidness recruiting, not Football) & not much else.
I did notice that aqualung used the word “only” just before he mentioned “$35M.” Boy’s come a long way in his financial perspectives.
