Yale: By "Billion," We Meant Million

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Earlier this week, The Business Insider alerted Yale’s general counsel to errors in its filings with the SEC.

Yale had accidently reported that its $17 billion endowment had $60 billion worth of stock investments. When we brought this to Yale’s attention, it promptly admitted the mistake and were thankful for the heads-up.

Yesterday, Yale posted three amendments to correct the errors.

So the report now accurately shows that their reportable second quarter investments were $60 million, not $60 billion. 

Their total reported holdings, which include a new stake in JP Morgan, dropped $55 million to $5 million in the 3rd quarter, a much smaller divestment than the $55 billion indicated by the reports before they were amended.

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