Cash Me If You Can
University endowment managers followed Yale investment guru David Swensen into private equity and hedge funds, eager for the same 16 percent annual returns he got. Now with the crash, they’re short on cash. Luckily for Yale, Swensen didn’t always follow his own advice.
Full-text article by Daniel Golden is available via Conde Nast Portfolio.com, April 2009.
Labels: endowment, higher education, Yale
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