US$12.3 TRILLION out of thin air…
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Gut Feel
What struck me about our latest conversation was her application of the ‘smell test’. As we chatted about potential investments, it was clear that she’d undertaken a lot of research. And, consequently, had very firm opinions about where certain potential investments might go wrong.
To be sure, I didn’t agree with her in every case and said so. But I’d far, far sooner see investors reject potential investments based on ‘gut feel’, than plunge in unthinkingly.
David Swensen, the pioneer of Yale who remodeled investments
On monday David Swensen despite a long battle with cancer he gave a regular class on investing at his beloved Yale University. Two days later, he finally managed to make some of the biggest money he did, 67 years old.
The investment industry has produced more than just direct and ruthless tycoons, unfortunate failures, and foolish fraudsters. In Swensen (who has run a $ 31 billion endowment for his alma mater since 1985), he had a rare asceticism when he transformed the seemingly wealthless management of the industry.
“They are great painters who change how others paint, just like Picasso. David Swensen has changed the way everyone involved in investing thinks about investing, ”he says. Charles Ellis, He directed Yale’s endowment between 1997 and 2008.
According to former colleagues and friends, few institutional investors have been as influential as David Swensen.
The longtime Yale University investment chief died at age 67 on Wednesday after a long battle with cancer, the school’s president announced on Thursday. Those who knew him say he leaves behind a legacy of pioneering investment management and enduring mentorship that will live on for years to come.
“It is a day of grief but also a day of gratitude,” Anne Martin, chief investment officer at Wesleyan University and a former Yale Investments Office director, said via email Thursday. “David had such a huge impact on the world and that’s something we should all be grateful for.”
Yale endowment chief David Swensen dies at 67
By Janet Lorin Bloomberg,Updated May 6, 2021, 1:02 p.m.
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David Swensen, chief investment officer of the Yale University Investments Office, speaks at the John C. Bogle Legacy Forum in New York.Peter Foley/Photographer: Peter Foley/Bloomb
(Bloomberg) David Swensen, the chief investment officer at Yale University who helped revolutionize how college endowments are managed, has died. He was 67.
Swensen died May 5 after a long battle with cancer, Yale said Thursday in a statement. He had gone on temporary leave from his job in September 2012 to undergo treatment before returning to his duties at Yale.
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