内容简介
Swensenhasbeenthechiefinvestmentofficerforthepast14yearsatYaleUniversity,whereheisresponsibleformanagingandinvestingmorethan$6billionoftheuniversity'sendowmentassetsandinvestmentfunds.Realizinganannualreturnofmorethan16percentonhisinvestments,Swensenhasaddedmorethan$2billiontoYale'scoffers,andhisconsistenttrackrecordhasattractedthenoticeofWallStreetportfoliomanagers.HereSwensenprovidesabriefhistoryofendowmentfundsandexplainsthepurposeofendowmentaccumulationandthegoalsforinstitutionalportfolios.Oneofthestrategiesbehindhissuccesshasbeentodiversifyassetclassesandmovebeyondarelianceondomesticmarketablesecurities.Hedistinguishesbetweentraditionalandalternativeassetclasses,looksatperformanceevaluationissuesandtools,andconsiderstheinvestmentdecision-makingprocess.Althoughitsaudiencewillbelimited,thisbookisanecessarypurchaseforlibrarieswithcollectionsthatincludethetopicofinvestmentmanagement.DavidRouse.