Institutional Portfolio Management and Investment Strategies - Guest Lecture

Explore Yale University's investment strategies in this guest lecture by David Swensen, Yale's Chief Investment Officer. Delve into the tactics and tools used by Yale and other endowments to generate long-term, positive investment returns. Learn about the critical importance of asset allocation and diversification, while understanding the limited impact of market timing and security selection. Examine the extraordinary returns of hedge funds with a critical eye, considering survivorship and back-fill biases. Discover how institutional portfolio management has evolved, the power of diversification in asset allocation, and how to balance equity bias. Understand the emotional pitfalls of market timing, explore value investing opportunities as an active manager, and gain insights into Yale's portfolio and results. The lecture concludes with a Q&A session addressing new investments, maintaining a bullish outlook, and time horizons in investment strategies.

- Chapter 1. Introduction: Changing Institutional Portfolio Management
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- Chapter 2. Asset Allocation: The Power of Diversification
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- Chapter 3. Balancing the Equity Bias into Sensible Diversification
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- Chapter 4. The Emotional Pitfalls of Market Timing
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- Chapter 5. Survivorship and Backfill Biases in Security Selection
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- Chapter 6. Finding Value Investing Opportunities as an Active Manager
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- Chapter 7. Yale's Portfolio and Results
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- Chapter 8. Questions on New Investments, Remaining Bullish, and Time Horizons
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