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More copies of this ISBN:This title in other formats:Pioneering Portfolio Management: An Unconventional Approach to Institutional Investmentby David F Swensen
Synopses & ReviewsPublisher Comments:During his fourteen years as Yale's chief investment officer, David F. Swensen has transformed the management of the university's portfolio. Largely by focusing on nonconventional strategies, including a heavy allocation to private equity, Swensen has achieved an annualized return of 16.2 percent, which has propelled Yale's endowment into the top tier of institutional funds. Now, this acknowledged leader of fund managers draws on his experience and deep knowledge of the financial markets to provide a compendium of powerful investment strategies. Swensen presents an overview of the investment world populated by institutional fund managers, pension fund fiduciaries, investment managers, and trustees of universities, museums, hospitals, and foundations. He offers penetrating insights from his experience managing Yale's endowment, ranging from broad issues of goals and investment philosophy to the strategic and tactical aspects of portfolio management. Swensen's exceptionally readable book addresses critical concepts such as handling risk, selecting investment advisers, and negotiating the opportunities and pitfalls in individual asset classes. Fundamental investment ideas are illustrated by real-world concrete examples, and each chapter contains strategies that any manager can put into action. At a time when it is becoming increasingly difficult to cope with the relentless challenges provided by today's financial markets, Swensen's book is an indispensable roadmap for creating a successful investment program for every institutional fund manager. Any student of markets will benefit from Pioneering Portfolio Management. Review:Peter L. Bernstein, PresidentPeter L. Bernstein, Inc.This book will be a classic: it is essential reading for all investors, great and small. David Swensen is a leader and pioneer whose words reveal a rare combination of courage, integrity, and intelligence. No one can fail to find value here. Review:Burton G. Malkiel, Chemical BankChairman?s Professor of Economics, Princeton UniversityOne of the world's most successful institutional fund managers presents powerful insights to help us become better investors. A must-read for both institutional and serious individual investors. Review:Barton M. Biggs, Chairman,Morgan Stanley Dean Witter Investment ManagementDavid Swensen is one of the best and most original fiduciaries of modern times. His thinking has survived the battlefields and it has worked for big money. Review:Richard C. LevinF.W. Beinecke Professor of Economics and President, Yale UniversityDavid Swensen's creative and disciplined approach to investment has given Yale the resources it needs to augment its capacity for excellence in scholarship and teaching. Those who absorb the wisdom in this book will likewise strengthen the institutions they serve. Synopsis: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. Description:Includes bibliographical references (p. [345]-354) and index. About the AuthorDavid F. Swensen is the chief investment officer of Yale University and the bestselling author of Pioneering Portfolio Management. He serves on the boards of TIAA, The Brookings Institution, Carnegie Institution, and Hopkins School. At Yale, where he produced an unparalleled two-decade investment record of 16.1 percent-per-annum returns, he teaches economics classes at Yale College and finance classes at Yales School of Management. Mr. Swensen lives in New Haven, Connecticut. Table of ContentsContents Foreword: Tobin's Friend 1. Introduction 2. Endowment Purposes 3. Investment and Spending Goals 4. Investment Philosophy 5. Asset Allocation 6. Portfolio Management 7. Traditional Asset Classes 8. Alternative Asset Classes 9. Investment Advisers 10. Performance Assessment 11. Investment Process Notes Index About the Author What Our Readers Are SayingBe the first to add a comment for a chance to win!Product Details
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