Wednesday, October 5, 2016

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SINCE 1891

THE BROWN DAILY HERALD WEDNESDAY, OCTOBER 5, 2016

VOLUME CLI, ISSUE 79

WWW.BROWNDAILYHERALD.COM

Michael Kosterlitz wins Nobel Prize Endowment falls to $3.2 Physics professor honored billion from record high for research in topological Annual return within top quartile of 144 peer institutions, top half of Ivy League despite losses

phase transitions, states of matter, superconductivity By ELENA RENKEN SENIOR STAFF WRITER

J. Michael Kosterlitz, professor of physics, was named a winner of the 2016 Nobel Prize in Physics Tuesday morning. Kosterlitz shares his half of the prize with Frederick Haldane, professor of physics at Princeton. The other half of the prize was awarded to David Thouless, professor of physics at the University of Washington. This year’s prize was given for the physicists’ “theoretical discoveries of topological phase transitions and topological phases of matter,” according to the press release from Nobelprize. org. Kosterlitz is specifically recognized for his work, conducted with Thouless in Great Britain during the early 1970s, that explored the physics of substances so thin that they were viewed as two dimensional. They showed that superconductivity is possible at low temperatures and described the change that makes it vanish as temperatures rise. Examining an extremely thin layer of matter as it was warmed from very low temperatures, Kosterlitz and Thouless observed that the tight pairs

By KASTURI PANANJADY SENIOR STAFF WRITER

COURTESY OF BROWN UNIVERSITY

J. Michael Kosterlitz was announced a winner of the Nobel Prize in Physics for foundational research conducted in the 1970s with David Thouless. of vortices formed in the cold suddenly split at the temperature of the phase transition. The scientists used topology, or mathematics that involve changes occurring in steps, to explain

this alteration, according to the background information published with the press release. The discover y of the » See NOBEL, page 2

The University’s endowment fell by 1.1 percent to $3.2 billion over the 2016 fiscal year, according to a University press release. This is a marked departure from the previous fiscal year, when the endowment reached a record high of $3.3 billion after a 5.7 percent return, as The Herald previously reported. “The opportunity set this year was very narrow, and it was a challenging environment,” wrote Managing Director Jane Dietze in an email to The Herald. “We did a good job of protecting capital.” Global markets were weaker than in the previous year, as the S&P 500 posted a gain of just 4 percent in comparison to 7.4 percent last year. The University invested 24 percent of the endowment in public equity, 20 percent in private equity, 5 percent in real assets, 7 percent in fixed-income instruments and 7 percent in cash, according to a release from the Investments Office.

“The only bright spots in terms of performance were bonds, gold and global real estate,” the release stated. A loss of 1.1 percent still means that the University beat its aggregate benchmark of -2.2 percent. The number represents the point-of-reference expected returns for each asset class weighted by their share of the University’s investments. “Beating the benchmark suggests that our active management adds value,” Dietze wrote. That percentage loss also places Brown in the top quartile of 144 peer institutions by endowment returns as defined by Cambridge Associates, according to the Investments Office release. The University’s returns also exceeded those of half of its Ivy League peers. While Yale and Princeton earned returns of 3.4 percent and 0.7 percent on their respective funds, Harvard and Cornell lost 2 percent and 3.3 percent of their respective endowments. “It’s a long-term race, and we have been laying the foundation to be highly competitive during the last three years,” Dietze wrote of Brown’s performance relative to its Ivy League peers. “We want to be highly competitive, but only with a high-quality return » See ENDOWMENT, page 2

‘By The Way, Meet Vera Locke outlines new financial plan for U. Stark’ cuts deep with humor Plan for financial Play uses comedy to deftly address racial issues, resonates in contemporary social landscape By ZACHARY BARNES CONTRIBUTING WRITER

Sock and Buskin’s “By The Way, Meet Vera Stark” employs screwball comedy as a means of social critique, and the results are funny and insightful in nearly equal measure. The play, written by Lynn Nottage ’86, tells the story of fictional AfricanAmerican actress Vera Stark and focuses on the beginning and end of her career. The first act is set in the 1930s, when Vera works as a servant to the movie star Gloria Mitchell, desperate to make the leap from the sidelines to the screen. Eleonora Saravalle ’18, who plays Gloria, acts the part with brio, using grand gestures and dramatic screeching to command our attention. Sienna

ARTS & CULTURE

INSIDE

Vann ’17, as Vera, performs the quieter part admirably, demonstrating a careful balance between being Gloria’s servant and friend. Tensions between the two emerge in the first scene, when Gloria casually delivers to Vera a stinging reminder of her class and race. Director Kym Moore, associate professor of theatre arts and performance studies, said that “the hardest thing was to get the actors to be mean to each other.” Here, they succeed. Race comes boldly to the foreground in the next scene, where we are introduced to two of Vera’s friends, Lottie (Maya Blake ’19) and Anna Mae (Stella Akua Mensah ’17, a lively comedic presence), both of whom also aspire to be actresses. Vera tells Lottie about a new Southern epic film, “The Belle of New Orleans,” that she wants to audition for, and in which she would play a slave. Lottie responds with wry excitement, “Slaves? With lines?” She then bends down and sings a low, mournful spiritual. As performed by Blake, it’s a sly, cutting parody of Hollywood’s » See VERA STARK, page 2

stability includes freeze on undergrad admission, investment in grad school By JULIANNE CENTER SENIOR STAFF WRITER

Provost Richard Locke P’17 announced historic changes to the University’s budget and business model at the faculty meeting Tuesday in Salomon 001. The plan outlined a significant shift in the structure of the University, freezing undergraduate admission and growing the University’s graduate programs. This change will require that the University invest further in lab facilities and basic infrastructure while cutting costs to accommodate shifting revenues. Due to the brevity of the faculty meeting, little discussion by faculty members followed Locke’s financial presentation. The new financial model is the result of over a year of work, with involvement from the Office of the Dean of the College, the Office of College Admission, the Office of

GUS REED / HERALD

Provost Richard Locke P’17 addressed faculty members during a meeting about decreasing the University deficit and securing financial stability. Financial Aid and the Investment Office, Locke said. Locke also noted that it is “highly unusual to share this kind of information (with) the community.”

“In the same way that we are being extremely transparent about diversity and inclusion, … we’re trying to be incredibly transparent and engage the » See PLAN, page 2

WEATHER

WEDNESDAY, OC TOBER 5, 2016

ARTS & CULTURE ‘Ivy League Rumba’ documentary details film festival, burgeoning popularity of Afro-Cuban music

ARTS & CULTURE ‘Memories of the Wind’ paints raw, emotionally enriching history of Turkey during war

COMMENTARY Meyer ’17: Non-votes not merely rebellious, but downright dangerous in current election

COMMENTARY Reyes ’18: UCS needs safe spaces to diversify representative voices, have difficult conversations

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Wednesday, October 5, 2016 by The Brown Daily Herald - Issuu