Pioneering portfolio management : an unconventional approach to institutional investment
- David F. Swensen.
- Free Press hardcover ed., Fully rev. and updated.
- New York : Free Press, ©2009.
- Physical description
- 1 online resource.
- Includes bibliographical references (pages 375-383) and index.
- Endowment purposes
- Investment and spending goals
- Investment philosophy
- Asset allocation
- Asset allocation management
- Traditional asset classes
- Alternative asset classes
- Asset class management
- Investment process.
In his 14 years as Yale's chief investment officer, David Swensen has propelled the university's investment portfolio into the top one per cent of institutional funds. Here, he articulates his philosophy and strategies of portfolio management.
(source: Nielsen Book Data)
In the years since the now-classic Pioneering Portfolio Management was first published, the global investment landscape has changed dramatically -- but the results of David Swensen's investment strategy for the Yale University endowment have remained as impressive as ever. Year after year, Yale's portfolio has trumped the marketplace by a wide margin, and, with over $20 billion added to the endowment under his twenty-three-year tenure, Swensen has contributed more to Yale's finances than anyone ever has to any university in the country. What may have seemed like one among many success stories in the era before the Internet bubble burst emerges now as a completely unprecedented institutional investment achievement. In this fully revised and updated edition, Swensen, author of the bestselling personal finance guide Unconventional Success, describes the investment process that underpins Yale's endowment. He provides lucid and penetrating insight into the world of institutional funds management, illuminating topics ranging from asset-allocation structures to active fund management. Swensen employs an array of vivid real-world examples, many drawn from his own formidable experience, to address critical concepts such as handling risk, selecting advisors, and weathering market pitfalls. Swensen offers clear and incisive advice, especially when describing a counterintuitive path. Conventional investing too often leads to buying high and selling low. Trust is more important than flash-in-the-pan success. Expertise, fortitude, and the long view produce positive results where gimmicks and trend following do not. The original Pioneering Portfolio Management outlined a commonsense template for structuring a well-diversified equity-oriented portfolio. This new edition provides fund managers and students of the market an up-to-date guide for actively managed investment portfolios.
(source: Nielsen Book Data)
- Publication date
- Includes index.
- Electronic reproduction. Ann Arbor, MI Available via World Wide Web.
- 9781416554035 (electronic bk.)
- 1416554033 (electronic bk.)
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