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Tuesday October 10, 2017 vol. CXLI no. 83
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U. posts 12.5% endowment return for FY17 By Marcia Brown head news editor
The University released its endowment returns on Monday afternoon, Oct. 9, and showed a 12.5 percent investment gain for the fiscal year ending June 30, 2017. The endowment is now valued at $23.8 billion, a growth of $1.6 billion from last year, when the University reported only a 0.8 percent return. “I have mixed feelings about it,” said Princeton University Investment Co. (PRINCO) president Andrew Golden. “We care mostly about the returns in absolute terms, as that is certainly what enables us to achieve our goals.” PRINCO manages the endowment, and will certify the results during its directors’ meeting on Oct. 19. According to a University statement, the endowment’s average annual return during the past decade is 7.1 percent, placing the University squarely in the top percentile of the 458 institutions listed by the Wilshire Trust Universe Comparison Service. Harvard University announced its returns in mid-September, noting only an 8.1 percent return for Fiscal Year 2017. Although that brought Harvard’s endowment to a staggering $37.1 billion,
the returns were disappointing to N. P. Narvekar, the new manager of the Harvard Management Company, the analogue to PRINCO. Columbia University and Yale University have yet to release their endowment returns, while Dartmouth College posted a 14.6 percent return, and Stanford University reported a 13.1 percent return. “On the relative front ... you can’t win every year, so to speak,” Golden continued, “and, in fact, that’s not really what this is about.” Golden, who has managed the endowment since 1995, explained that for PRINCO – and for most endowment managers – the job is to manage for the long-term, although this was not PRINCO’s strongest year in relative terms. “One year is kind of the blink of an eye,” Golden added. “Everyone who works at PRINCO cares about higher education, and this is not the same kind of [zero-sum] competition as a football game,” he said. “We think that we all do well when we all do well.” Golden said that he feels good about long-term prospects for the endowment, “in part, because See ENDOWMENT page 3
BEYOND THE BUBBLE
N.J. Senators introduce gun control legislation By Benjamin Ball contributor
Attempting to move forward in the wake of tragedy, both United States senators from New Jersey have joined forces with a group of other Democratic senators in introducing new legislation to amend the nation’s gun laws. On Thursday, Oct. 5., Senators Bob Menendez and Cory Booker took the leap and introduced two new pieces of gun control legislation. According to a statement made via email by Tom Pietrykoski, Booker’s press secretary, “The first would ban bump stocks and close the loophole allowing gun sales without a background check. The second would ban the importation, sale, manufacture, transfer, or possession of gun magazines that hold more than ten rounds of ammunition.” Specifically, the first bill, the Background Check Completion Act, would require a complete background check on any buyer purchasing a gun from a federally licensed dealer; the second bill, the Automatic Gun Fire Prevention Act, would “ban the sale, transfer, importation, manufacture or possession of bump stocks, trigger cranks and similar accessories that accelerate a
In Opinion
semi-automatic rifle’s rate of fire,” according to a statement put out last Thursday. The bill specifically targets accessories that increase a semi-automatic rifle’s rate of fire, though there are exemptions for legitimate accessories used by hunters, as well as for lawful possession of those items either by the government or by law enforcement. The bills come in direct response to the recent tragic shooting in Las Vegas. Bump stocks were used by the Vegas shooter, and thus the senators are pushing for the legislation in the hopes that it could prevent future tragedies from happening again. The NRA recently came out in support of the legislation as well, although it should be noted that there remain ways to increase rate of fire other than those that are banned in the bill. “As the people’s elected representatives, we have a moral obligation to put in place policies to prevent massacres like this one in the future,” said Menendez in a press release. “It’s time to close background check loopholes.” Both legislative efforts being pursued by Menendez and Booker are mainly concerned with fixing regSee SENATORS page 2
Columnist Hayley Siegel makes an appeal for basic human empathy, and columnist Ryan Born braeks down the debate around Title IX. PAGE 4
ON CAMPUS
EMILY SPALDING :: SENIOR WRITER
On Monday, October 9, Riz Ahmed spoke to a University audience in Richardson Auditorium for an event hosted by the Muslim Life Program.
Riz Ahmed talks about role of identity, representation in media By Emily Spalding senior writer
“It’s not just my Emmy, it’s yours as well. But I’ll keep it at my house,” British actor, rapper, and activ ist R iz Ahmed said to a sold-out audience on the afternoon of Monday, Oct. 9 at an event hosted by the Princeton Universit y Muslim Life Program. Ahmed recently won the 2017 Emmy Award for Outstanding Lead Actor in a Limited Series for his role as Nasir Khan on HBO’s show “The Night
Of,” mak ing h im the f irst Muslim and Asian to w in in this categor y. A lso know n for his roles in f ilms such as “Nightcrawler,” “Rogue One : A Star Wars Stor y,” and “Jason Bourne,” Ahmed spoke about his identity as a South Asian Muslim and how that has shaped his career in the arts. “Your unique stor y is going to form the basis of your unique contribution, and I think often when you don’t see yoursel f ref lected back in popular culture, literar y culture, v isual arts,
f ilm, telev ision, music, it’s ver y easy to think the specif icit y of your ex per ience precludes you from participating in that conversation,” said Ahmed, explaining how his background has impacted his career. “I think what people real ly connect w ith is the honesty of someone k ind of sharing their truth, even if they can’t relate to the texture of their ex perience,” he added. The event began w ith a conversation w ith See AHMED page 2
BEYOND THE BUBBLE
Director of European Space Agency lays out plans for interplanetary exploration By Allie Spensley senior writer
By Alexandros Papamatthaiou contributor
“Let’s to go the Moon in a new way,” said Dr. JohannDietrich Woerner, Director General of the European Space Agency (ESA), in a lecture on Oct. 6 about the advancement of space exploration and ESA’s goals to venture farther into the universe. Woerner invited the audience to imagine a “Moon Village,” an open system involving participants and projects from many different countries. The idea illustrated his belief that the motivations and methods of space exploration are changing in response to increased privatization of the industry, with regional space agencies adopting a more globally interconnected approach. ESA, the European equivalent of NASA, is an intergovernmental organization of 22 member states dedicated to space exploration. Woerner, former president of the German university Technische Universität Darmstadt, has served as head of the agency since 2015. In this capacity, he has led the organization to view space exploration as collaboration for a com-
mon cause. Frequently referring to ESA astronauts as “Europeans,” instead of by their individual nationalities, he talked about the importance of international cooperation in space exploration and upcoming ESA missions co-organized with the American, Canadian, and Chinese space agencies. “Space should not be political,” Woerner said. “It’s possible for space to bridge all earthly crisis.” ESA’s major projects lie in the fields of navigation, telecommunication, science and exploration, and robotics. The agency has developed the European Exploration Envelope Programme, a unified vision for Europe’s space exploration that focuses on the Moon and Mars. Upcoming investigative missions involve exploration of the dark universe, the Sun, exoplanets, Mercury, and gravitational waves. Part of the difficulty of spearheading an organization like ESA is dealing with negative press, Woerner explained. He mentioned widespread public anger over the failed landing attempt of a Mars probe, even though the main purpose of the mission was to learn how to
Today on Campus 4:30 p.m.: Director of the European Iran Research Group Rouzbeh Parsi and Lead Researcher for the Iran Social Survey Kevan Harris discuss contemporary events in Iran in the light of the recent reelection of its president Hassan Rouhani. Robertson Hall, Bowl 016
improve landing procedures. Woerner said that every decision ESA makes is based on a calculation of the probability of failure and the level of risk involved, whether it’s something as small as a simulator, or as important as the safety of humanity. He emphasized the importance of refusing to limit goals or to view Mars as the “ultimate goal” of space exploration. “We should never talk about ‘ultimate goals.’ We never know what humans can do in the future,” Woerner said. Matt Kolodzik ‘20, a mechanical and aerospace engineering concentrator, said that he was interested in Woerner’s overall outlook on space exploration. “He did a good job of balancing politics versus the reality of the technical side of things,” Kolodzik said. “The big thing in the U.S. is space exploration and privatization. He was able to strike a really good balance about what his agency does directly while maintaining a certain amount of respect for the industry.” Hemani Kalucha ‘19, Director of Infrastructure for the Princeton Rocketry Club, invited Woerner See ESA page 3
WEATHER
U . A F FA I R S
HIGH
82˚
LOW
59˚
Partly Cloudy chance of rain:
10 percent