To be fair, overall he made money - the 1.8 billion number was just the dip, but they were making money hand over fist in the years before, more than enough to come out positive overall.

Honestly, Summers has joined the pantheon of people I recommend people never take economic advice from -- also included are Jimmy Cayne, Vik Pandit and Dick Fuld.

>Update: Brad DeLong, in the comments, does some back-of-the-envelope math and reckons that Harvard came out ahead of the game, on net, even after accounting for that $1.8 billion loss.

And the comments are closed. Neat.