David Swensen: The Yale Strategist đ
This was the year the revised edition of his book "Pioneering Portfolio Management" came out. His average annual return over 20 years at Yale before this was 15.6% (compared to 10.8% for the S&P 500). It is very difficult for any endowment fund to outperform the S&P during a bull market. It proved its worth especially between 2000 and 2002, by being on the rise for all three years while the S&P fell by -10%, -12% and -22%, for a cumulative loss of -39% in those three years.đ€đ€Ż#MindsetMatters
