Jack Meyer, who managed Harvard's endowment until 2005, at which point some people tried to run it into the ground, with a little help from pals from Goldman Sachs, while Meyer went off to run a hedge fund, just spent $15 million on a house in Dutchess County, so all's well that ends well.

Today's FBI-investigated hedge funds: Wellington Management, Balyasny Asset Management. According to the WSJ, "The Securities and Exchange Commission has shifted its focus on insider trading toward serial offenders and intertwined rings rather than individual trades." Here's Dealbreaker's thinking: it's all about the elusive, secretive Steve Cohen. On that, no idea: but it is true the reasonably oft-maligned SEC needs to bag some big game (and also, for once, to shoot it dead).