David Swensen passed away this week. As head of the Yale University endowment fund, he is widely credited with developing a new way to manage money for long-lived institutions like endowments, foundations, sovereign wealth and pension funds. You may hear it called the ‘Yale Model.’
From the very earliest days of Abnormal Returns we have noted items about Swensen. For the class I taught on alternative investments the only book I assigned was Swensen’s book Pioneering Portfolio Management. Swensen’s impact on the industry is undeniable, but more important are the many kind remembrances that his friends and colleagues had of him. Some items from the past week follow:
Obituaries
David Swensen, Yale Endowment Chief Who Changed the Course of Institutional Investing (WSJ)
David Swensen, Who Revolutionized Endowment Investing, Dies at 67 (New York Times)
Yale endowment chief David Swensen dies (FT)
Remembrances
‘Self confident yet selfless’ – Yale University
There’s David Swensen, Warren Buffett and Everyone Else – John Authers
Yale’s Swensen Leaves Legacy of Proteges Across Investing – Bloomberg
Friends and Colleagues Remember David Swensen – Institutional Investor
David Swensen, the Yale who reshaped investing – FT
David Swensen, The Greatest Investor You Maybe Never Heard Of, Leaves Powerful Legacy – NPR
My thoughts on David Swensen’s Passing – Ted Seides
Analysis
The (Easily Misunderstood) Yale Model – Charley Ellis
Why David Swensen is the Roger Federer of Investing – Ted Seides
David Swensen is Great for Yale. Is He Horrible for Investing? – Leanna Orr
Resources
The Yale Endowment 2020 Annual Report – Yale University
ECON 252: Financial Markets (Guest Lecture by David Swensen) – Open Yale Courses
A Conversation with David Swensen (and Robert Rubin) – Council on Foreign Relations
Books
Unconventional Success: A Fundamental Approach to Personal Investment (2005)
RIP, David.
*The Wall Street Journal reports on the succession process at Yale.
