Fund Lessons From David Swensen
The Street (Free subscription) | 10/16/2009
Swensen cut his reputation as the head of Yale's $16 billion endowment fund.
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David Swensen
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David Swensen Top Stocks: DEI, AKR, INFN, TIVO
GuruFocus Updates (Free subscription) | 10/10/2009
By guruek. (GuruFocus, October 10, 2009) FT's US managing editor Chrystia Freeland had a lunch with Investment Guru David Swensen and published a write-up in FT.com. It provides a glimpse of what occupies the mind of Swensen these days. Read more » »
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“One in five hedge fund managers misrepresents their fund
What does wealth mean to you? (Free subscription) | 11/05/2009
... have a difficult job. In terms of looking at the past retunrs,I notice also that the much admired David Swensen, CIO of the Yale endowment lost 28.8%, yet a 60/40 portfolio of equities and bonds over the same period would have fallen by 13.5%. Picking winners in advance is a mugs game and investors should really look no further, for the core of their portfolio to boring portfolios,...
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Evidence-based Investing, Part Two
The Passionate Planner (Free subscription) | 10/21/2009
“When you look at the results on an after-tax, after-fee basis over reasonably long periods of time, there’s almost no chance that you end up beating an index fund. The odds…are 100 to 1.” – David Swensen. Passive investing, sometimes called index investing, is, as the name suggests, the exact opposite of active management of a [...]
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Get Know!
The Corresponding Society (Free subscription) | 10/19/2009
Know: “No Know” is here --- The Corresponding Society’s premiere line of poetry chapbooks --- representing the following exciting verse collections contained in finely-wrought limited editions: “Elegies for A.R. Ammons” by David Swensen; “This Pose Can Be Held for Only So Long” by Caroline Gormley; “Wow, Where Do You Come from, Upside-Down...
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Where Are The Low-Cost Commodity Mutual Funds?
Amateur Asset Allocator (Free subscription) | 10/09/2009
A decade of volatile financial markets and stock crashes has taken its toll on investors’ psyches. The motto “Stocks for the Long Run” has increasingly given way to “Stocks Are Too Risky,” which is a shame. Nonetheless, recent events have given rise to renewed interest in alternative asset classes a la David Swensen, not the [...]
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Sunday links: long run lags
Abnormal Returns (Free subscription) | 10/11/2009
The long run is overrated . “Individuals don’t invest over the long run. Each has one run, over a fixed time frame.” ( CBS Moneywatch ) “But the risk of investing in stocks isn’t the chance that your rate of return might vary from an average; it is the possibility that stocks might wipe you out . That risk never goes away, no matter how long you hang on” ( WSJ ) David Swensen , “ultimately,...
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Weekend Reading Links - October 4, 2009
The DIV-Net (Free subscription) | 10/04/2009
... the financial dividends Barel Karsan presented Why Not Let Inflation Be? Dividend Tree presented David Swensen Interview – Reiterates Diversified Asset Allocation Buy Value presented Obama’s Bad News For Investors moneygardener presented dividends, a love story The Div Guy presented September Dividend Income Update Disciplined Approach to Investing presented Dividend Payer's...
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Five Assets for Hedging Against Dollar Inflation or Deflation
The DIV-Net (Free subscription) | 10/01/2009
... Buffett) have expressed concerns about inflation. Among all the experts and pundits, I believe, David Swensen gave a very pragmatic and down to earth response to this question in an interview on WealthTrack. According to Swensen, he does not know what will happen. He cannot predict it. There will be inflation if the recent pumping of money supports the economy and growth returns...
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5 Investment Managers You Should Learn From
Retirement Savior (Free subscription) | 09/30/2009
... strategy, on its face, is quite simple, but 20% returns over 50+ years is by no accounts easy. David Swensen Next to Buffett, Swensen has one of the best reputations today. He has managed the Yale endowment since 1985, garnering compounded returns of 14.5% even after a 25% drop in the last fiscal year. He advocates passive buy and hold allocations in a retail investor's portfolio,...
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How Many Asset Classes Do You Need To Be Diversified?
Amateur Asset Allocator (Free subscription) | 09/29/2009
... as junk bonds (and arguably corporate investment-grade bonds) do not. Yale endowment fund manager David Swensen devotes an entire chapter to these core asset classes in his highly-recommended book Unconventional Success . You should obviously only own asset classes that adequately compensate you for their risk factors. Some asset classes that meet this requirement: Domestic and Foreign...
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Sunday links: plain vanilla plans
Abnormal Returns (Free subscription) | 09/27/2009
... private options trading company in the world. ( Philadelphia Magazine via Infectious Greed ) Did David Swensen (indirectly) ruin the venture capital industry? ( Chris Dixon via Howard Lindzon ) Is a “mass exodus” of hedge funds from London to Switzerland at hand? ( Times Online ) High profile hedge fund Clarium LP is struggling. ( WSJ ) “So we may be fooling ourselves if we think...
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The Twitter Investment And The Decline Of Venture Capital
Silicon Alley Insider (Free subscription) | 09/25/2009
There has been a lot of talk the past few days about Twitter raising $100 million at a $1 billion valuation. To understand what is going on from the investor side, you need to know about David Swensen , the man who (inadvertently) destroyed venture capital. Read the rest of this story » See Also: Twitter Users Are An Advertiser's Dream Come True CHART OF THE DAY: Twitter Raises...