David Swensen, investment manager of the Yale University Endowment Fund, has addressed how investors should set up and manage their. David Swensen’s portfolio (from Unconventional Success). DavidSwensen. “ Individual investors should take control of their financial destinies. Bogleheads – How many folks have read the book Unconventional Success? If you did, what are your thoughts? Is the book still relevant since it.

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A giant distraction from the business of investing.

As an aside, in Chapter 4, Swensen argues that investment firms purposefully obscure the distinction between making the bonus a percent of profit versus a percent of the profit above market returns. Recommended for anyone seeking asset allocation advice for personal investments.

Fortunately this is not a hot-stock-tips book though on a hunch, before writing this review, I surveyed the opinion on Amazon, and found that that is indeed what many went in search of, and were appropriately disappointed but rather People should be able to question the moving parts of his allocation, but questioning his motives etc.

That said, I appreciate the rigorous academic work here. A surprisingly qualitative introduction to diversification in an investment portfolio as well as a structured assessment of pros and cons of various investment products. I am more interested in the token economy than the “core asset classes” he suggests, also his critique on mutual funds was not interesting to me because I do not plan to invest there.

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David Swensen Unconventional Success –

It’s much more approachable and covers a lot of the same ground. But it is a valuable reference for the average investor in today fund driven world.

I think that was inand was happy to find my portfolio structure was similar to one he proposed. We had two versions of the portfolio one using short-term treasures one using long-treasuries, in this comparison I used the portfolio with the long-term treasuries.

This book is not yet featured on Listopia. How many folks have read the book Unconventional Unconnventional By avoiding actively managed funds and employing client-oriented mutual-fund managers, investors create the preconditions for investment success. He has mostly favorable things to say about Vanguard Funds it’s non-profit and a Longleaf Partners, a small fund that’s mostly closed to new investors.


Unconventional Success Hardcover I’ve been mostly pleased with the performance and have stayed the course with that allocation ever since. David Swensen Unconventional Dwvid Discuss all general i. The tables below show returns for the Swensen portfolios, using Vanguard investor shares for the asset class selections. It’s not enough to beat market, but rather one must beat market by a wide enough margin to overcome the additional costs of active management.

I don’t see how that is much different than similar out performance sucess by active mutual fund managers.

Unconventional Success: A Fundamental Approach to Personal Investment

That is something I did not see that often in Personal Finance literature. Traditionally, the rule has been it takes at least 30 different stocks, diversified in various sectors of the economy, to reduce risk.


His recommendation of U. There must be many thousand on people running endowments, just by random chance some will greatly outperform. However, I liked the way Swensen substantiates his claims. Swensen’s preference for Treasury bonds over corporate bonds and munis is less persuasive to me.

If the markets are down, they bring more money into equities. Must redeem within 90 days. Last edited by Ice-9 on Mon Oct 29, 3: Jun 11, Chris Leuchtenburg rated it it was amazing Shelves: It’s not enough to beat mar This is an incredibly interesting book written in an incredibly dry unconventionak.

This is an incredibly interesting book written in an incredibly dry style. Over its history, this fund has essentially been offered as an admiral share class so we use the admiral share returns sequence for this allocation. Both the Sharpe Ration and the Sortino Daid attempt to even the playing field by measuring the portfolios on a risk-adjusted basis.