Canned in Boston
Pretty interesting story about a black, female investment analyst who claims she was fired from Harvard Management Company for raising concerns about derivative trading in the school's $18 billion investment portfolio.
It's now worth $11 billion, a 30 percent drop.
Money Q:
She blames former Harvard President Larry Summers for her canning.
It's now worth $11 billion, a 30 percent drop.
Money Q:
"The group I was working for had no background whatsoever to be working on [derivatives]," (Iris) Mack says, adding that, to her knowledge, several of her colleagues were not licensed securities traders. "Sometimes the ways they handled even basic Black-Scholes models [widely used to price stock options] were puzzling."
She blames former Harvard President Larry Summers for her canning.
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