Tuesday, December 4, 2012
A puzzling little piece in the Chronicle of Philanthropy reports that the Nobel Foundation, the group based in Stockholm that gives away the annual Peace Prize, among others, will invest in hedge funds as a way of rebuilding its portfolio. Earlier this year the Foundation announced that it would have to trim several hundred thousand dollars from the cash total that accompanied each prize. They now see hedge funds as their road back to prosperity. Apparently they have not been reading the business pages.