Knight Foundation President Alberto Ibargüen addresses the economic outlook in a video (here’s the transcript): Some key points are listed below the video.

First, let me repeat what we’ve discussed with many of you individually: while we have taken our losses, the foundation remains quite strong.

I’m especially pleased to be able to assure you that Knight Foundation will honor all existing pledges and grants. We foresee no liquidity issues for the Foundation.

We’ve been well served by a long-standing policy of asset diversification, directed by an outstanding Investment Committee and our outside investment manager.

And we expect to be well positioned when the markets recover.

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