Might the economic recession not be as bad as we think — at least as far as university endowments are concerned?

An article in the August issue of Vanity Fair, a preview of which has been posted to the magazine’s Web site, says that according to a source on the board of Harvard Management Company, Harvard’s endowment only declined an estimated 23 to 25 percent in the fiscal year that ends today, rather than the 30 percent that officials had projected.

That could be good news for Yale, considering its endowment (which is projected to fall 25 percent) is invested using strategies similar to those employed by the Harvard Management Company. Or, of course, it could mean absolutely nothing.

(Photo: Vanity Fair)