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Home > Financial Information Sources > Investment > Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment

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Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment

David F. Swensen
2nd Edition
New York: Free Press, 2009
432pp, ISBN: 978-1-4165-4469-2
www.simonsays.com/content/destination.cfm?tab=1&pid=427723

This describes the investment process that underpins the author’s own institutional investment success, and describes his often counterintuitive strategies for structuring a well-diversified equity-oriented portfolio. It analyzes asset-allocation structures, active fund management, as explores how to handle risk, select advisors, and survive market downturns, based on the key elements of trust, expertise, fortitude, and a long-term perspective.

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Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment, Fully Revised and Updated

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Product Description

In the years since the now-classic Pioneering Portfolio Management was first published, the global investment landscape has changed dramatically -- but the results of David Swensen's investment strategy for the Yale University endowment have remained as impressive as ever. Year after year, Yale's portfolio has trumped the marketplace by a wide margin, and, with over $20 billion added to the endowment under his twenty-three-year tenure, Swensen has contributed more to Yale's finances than anyone ever has to any university in the country. What may have seemed like one among many success stories in the era before the Internet bubble burst emerges now as a completely unprecedented institutional investment achievement.

In this fully revised and updated edition, Swensen, author of the bestselling personal finance guide Unconventional Success, describes the investment process that underpins Yale's endowment. He provides lucid and penetrating insight into the world of institutional funds management, illuminating topics ranging from asset-allocation structures to active fund management. Swensen employs an array of vivid real-world examples, many drawn from his own formidable experience, to address critical concepts such as handling risk, selecting advisors, and weathering market pitfalls.

Swensen offers clear and incisive advice, especially when describing a counterintuitive path. Conventional investing too often leads to buying high and selling low. Trust is more important than flash-in-the-pan success. Expertise, fortitude, and the long view produce positive results where gimmicks and trend following do not.

The original Pioneering Portfolio Management outlined a commonsense template for structuring a well-diversified equity-oriented portfolio. This new edition provides fund managers and students of the market an up-to-date guide for actively managed investment portfolios.

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