Disney, Tapestry, Monterey, and University Endowments (Podcast)
Bloomberg Intelligence
00:00
The Importance of Alternative Investments in Schools
Most of the larger schools you're absolutely right are mostly in alternatives. And that was a big shift starting in the late 80s, early 90s when David Swenson, the late CIO, decided that schools could get a better premium for illiquidity. But here's my big butt here. Alternative investments, particularly for the larger endowments, are a huge percentage. They did not mark the market the down 20, 25% year we had last year. I didn't see it anywhere in the endowments. Why? Why would they have to?"
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