What is the anchorman in the us naval academy?

The "anchorman" is the Midshipman in each graduating class who finishes dead last in the class, ranked by "order of merit," which is determined by a weighted computation of academic performance (65 percent), military performance (17.7 percent), athletic performance (10 percent) and conduct (7.8 percent). Though considered an honor (albeit a dubious one), getting there isn't easy - one needs to finish with low marks in everything without getting expelled, and those who go to Annapolis are typically the best students and athletic performers from around the country.

One tradition is a monetary one - the each member of the graduating class places a dollar or more into the anchorman's cover (hat) as it is passed around, which adds up to nice bundle of cash.