The New York Times corrected an April 7 article that wrongly — and impossibly — claimed that 145% of investment management firm International Value Advisers (IVA) Worldwide’s “total portfolio is in European equities.”
But really, since a total is 100% you can’t invest 145% of your money, can you? The Times erred in editing. IVA Worldwide actually invested a more realistic 15%.
The April 14 correction reads:
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“Because of an editing error, an article last Sunday about the outlook for Europe’s stock markets misstated the percentage of assets in the IVA Worldwide fund that is invested in European stocks. It is about 15 percent, not 145 percent.”
We made multiple attempts to contact IVA by phone and email to ask how they thought this error would have occurred but had no response.