Geoff Rubin on 60:40 Portfolios, Endowment Model and Re-Thinking Risk
Macro Hive Conversations With Bilal Hafeez
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The Endowment Model and the Quiddity Premier
An alternative to the whole 60-40 model is the so-called endowment model popularized by Spencer and the university endowments in the US. The argument there is actually you can start to earn the Quiddity Premier if you start to buy longer-dated illiquid assets. I think it's about finding that spot in the spectrum that corresponds to what you're trying to accomplish as an institution of where your advantages and edges lie in pursuit of real active returns.
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