Endowment resilient in face of downturn
Despite plunging markets, investment diversity likely to prevent significant decrease in Yale’s endowment, experts say
Around the country yesterday, university financial wizards like Chief Investment Officer David Swensen got good news and bad news.
Early in the day, they received word that, according to an influential benchmark, university endowments last year posted their largest gains in recent memory. Then came something less encouraging: By the end of the day, the Dow Jones Industrial Average had plunged 300 points, continuing an economic free-fall that shows little sign of letting up.
#2
By (Anonymous)
10:32am on January 19, 2008
My AIG portfolio has been doing pretty good in the past few years..I will put my Pie on the net for all to see
Me thinks Mr.Swenson has already peeked at mine and just out invested me,and has did a better job of convincing others.
well i should have went corporate
#3
By (Anonymous)
10:44am on January 19, 2008
You forgot to thank the wonderful Alum who so kindly forked over juicy checks in the form of endowments..And of course the tuition money from the lucky students who attend the great school of Yale
The following are true stories.
Madonna was in my way--really annoying to have "celebrities" blocking progress when you really need to get somewhere.
John Kerry thought I wanted to shake his hand, and seemed annoyed when I brushe him aside (I was late for a flight).
I stood in line to have David Swenson sign my copy of his first book; I did it again for the second.
David Swenson is a god among investment managers.
You kids should buy him flowers; mow his lawn; send him cookies.
For cryin' out loud: he is THE reason that tuition will be (mostly) free going forward; he is THE reason you have those nifty re-habbed colleges (do you know just how much easier/faster/better it would have been to knock 'em down?).
David Swenson has has more influence--and positive influence--on the industry than I or any of you will ever have.
(And, yes, I do hope to embarrass him just a little here; however, that does not diminish the truth of what I say.)