Marx had just delivered his performance review of the Foundation’s portfolio. Bubbie and Bertie looked at him with mouths open. Marx shrugged. “It is what it is. I wish I had better news.”
“The point is,” Bertie says. “Myron is up 22% in the first six months, you’re up just 1%? What gives, you’re absolutely dying over here.”
Marx conceded this point. “A fixed-income heavy portfolio just doesn’t pay off in this market. It’s just market mechanics; nothing you can do about it ot...
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