Interview with Howard Marks: Masters in Business (Audio)
Masters in Business
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Pension Funds - Are They a Real Challenge to Hit?
The rule of thumb for foundations and endowments to maintain their tax-deferred status is they're giving out 5% a year. But when you have rates rising rapidly and stocks not doing especially well, that becomes a real challenge to hit. The five-year T-bill treasury note used to pay 6.5%. And today it pays 1.5.
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Transcript
