Harvard and Yale are at it again, and the competition is fierce. In the most recent battle, the score was Yale: 3.4%, Harvard minus 2%! Contrary to popular impression, universities earn their living not just by teaching and charging tuition, but by investing their endowments—in other words, the donations they receive. Once considered a great way to invest, endowment strategies have tanked, according to the Wall Street Journal. Steve and Sinclair have the report. Then Steve reviews when to avoid, accept, reduce, or transfer risk in your portfolio.