Investment in Education

Insurance companies might learn something from the businessmen-educators who manage collegiate investments: a steady 4.02% was the average 1943 return on the $1,365,476,000 worth of securities and real estate held by 130 colleges endowed with 81% of the nation's higher educational funds; 3.29% was the average 1943 yield on investments obtained by 49 leading U.S. insurance companies.

Released last week by the American Council on Education, "College investments under War Conditions" disclosed that the collegiate moneylenders had not earned less than 4% since 1938. Noting that a few colleges were still following a "Rip van Winkle" financial policy of "turning over once and then sleeping," the Council recommended homework on the tried & true "Vassar Plan": buy stocks when the Dow-Jones industrial average is under 130, cash them in for bonds when the market booms.

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