Another stellar year for the Yale University endowment – a 28% return, following the previous year’s 22.9% return.
That means the endowment will cover 37% of Yale’s net revenues next this year. Imagine that – Yale is on the path for the endowment one day to be able to cover all the costs for the university.
The cool thing is that Prof. Dave Swensen, who runs the Yale Investment Office (since 1985), has shared his secrets of how to consistently make money while minimising risk.
Unconventional Success: A Fundamental Approach to Personal Investment (for personal investing)
Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment, Fully Revised and Updated
It’s fantastic to see the legacy that Dave is creating, when he could have sold out to the private sector years ago. That legacy comes in at 17.8% annual return for the last 10 years, which was done without a crazy or sector-exposed risk profile.
Another cool thing is that some of those now $22.5 billion of funds funds will build a new and double -the-size Yale School of Management campus.
Lance Wiggs 