Stanford University endowment plunges 27 percent - Lisa M. Krieger, Mercuy News

Stanford University's endowment, one of the richest in the country, plunged a staggering $4.6 billion last fiscal year, declining more than one-quarter in value because of an investment strategy that has produced stellar results for years — but also exposed it to huge risk. News of the endowment's worst drop ever — 27 percent — was anticipated by the Stanford community, which has endured budget cuts, layoffs and postponed construction.