3 ms·
Earmarked implies discretionary so it is discretionary
by firesteelrain 2y ago
Earmarked implies discretionary so it is discretionary
- jakelazaroff 2y agoMost of it is not discretionary, no matter what words random Internet commenters use to describe it.
- firesteelrain 2y agoI am replying to the GP. GP must be mistaken. It was Harvard’s choice to operate this way financially
- jakelazaroff 2y agoI understand. I am saying they are correct that much of Harvard's endowment is not discretionary, even if they accidentally used a term that implies that it is.
- TeaBrain 2y agoThat's not what discretionary means in this context. The funds having been originally earmarked at the discretion of the originator, means they are no longer available for any purpose at the discretion of the trustee, meaning they are no longer discretionary. You are confusing the funds having once been earmarked at someone's discretion for their being discretionary, which they haven't been since the point when they were earmarked at the originator's discretion.