I Beg To Differ
The Memo by Howard Marks
Yale, Yale, and Swenson - A Great Quote
Swenson radically reduced yale's holdings of public stocks and bonds. He invested heavily in innovative strategies such as hedge funds, venture capital and private equity. Yale's resulting performance beat almost all other endowments by miles. Swenson did things others didn't do long before most others picked up the thread. And he did them with exceptional skill.
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