David Swensen left a profitable Wall Road profession in 1985 to handle the Yale endowment. He launched a brand new investment-management philosophy and actually wrote the guide describing the method. The Swensen mannequin labored spectacularly at Yale and at many different academic establishments. However simply because the method is now extensively marketed because the optimum means for all portfolios to speculate, there are good causes to consider that it is going to be much less efficient sooner or later. Particular person buyers ought to particularly be cautious.
Diminishing Returns for College Endowments
