Whether it?s the start of a recovery or the calm before the storm can?t be known yet. Whichever is the case, college and university business officers and investment managers will take it. The 2010 survey of endowments, released today by Commonfund and the National Association of College and University Business Officers, shows a solid rebound (to 11.9 percent, up from -18.7 percent in 2009) in the average return for the 850 institutions surveyed.