Open Yale CoursesECON 252: Financial MarketsLecture 9 - Guest Lecture by David Swensen<< previous session| next session >>Overview:David Swensen, Yale's Chief Investment Officer and manager of the University's endowment, discusses thetactics and tools that Yale and other endowments use to create long-term, positive investment returns. Heemphasizes the importance of asset allocation and diversification and the limited effects of market timing andsecurity selection. Also, the extraordinary returns of hedge funds, one of the more recent phenomena ofportfolio management, should be looked at closely, with an eye for survivorship and back-fill biases.
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This note was uploaded on 02/08/2012 for the course ECON 252 taught by Professor Robertshiller during the Spring '08 term at Yale.