MP: My suggestion is to fire the 200+ employees of the Harvard Management Company team (whose top six executives were paid salaries between $4.4 million and $13.8 million in 2014) and have the Vanguard Group’s Nonprofit Institutional Investment Services team manage the $36 billion Harvard endowment, probably for higher returns at definitely at a much lower cost. As Warren Buffett advises, “Most investors, both institutional and individual, will find that the best way to own common stocks is through an index fund that charges minimal fees. Those following this path are sure to beat the net results (after fees and expenses) delivered by the great majority of investment professionals.”