Swensen confident in face of failing market
In 1987, after just a few years on the job, Chief Investment Officer David Swensen met with a nervous University President Benno Schmidt ’63 LAW ’66. The stock market was sagging, and Schmidt wanted answers about the performance of Yale’s endowment.
“Don’t panic,” Swensen told him. “Ride it — it’s not going to last.”
"Where's Benno?"
And hats off to David Swensen: Yale--and most of its competitors, really--owe him, well, billions.
I hope his defcomp pack makes up for his payscale (and his being forced to occupy 55 Whitney--couldn't Yale scrape up a spare Victorian or something?).
Bravo!