By Nicholas Vardy The Yale endowment model has enjoyed massive success and inspired many copycats, but over the last decade, it has lagged the market.
Today, Nicholas Vardy explains why and what investors can learn from this investment strategy.
David Swensen, manager of the Yale endowment and the university’s chief investment officer, is smarting.
Yale recently announced that its endowment returned a paltry 5.7% over the past year. Yale’s results trailed those of its largest rivals, Harvard and Stanford – both of which returned 6.5%.
Not exactly eye-popping returns.
With the average billion-dollar-plus college endowment returning just 5.8%… It’s no wonder Bloomberg called this year’s crop of college …read more
