Who says hedge funds are ready to be trashed? You can still find funds that produce awesome returns.Actually, you or I probably can't. David Swensen, who oversees Yale's endowment, can.
For the 12 months ending last June, Yale's endowment enjoyed an investment return of 22.9%, up slightly from 22.3% the preceding 12 months.
With compounding, that's a return of 50% over two years! Surely, Swensen can't keep up that pace. Or can he?
Football note: Tomorrow in Hanover, the Yale Bulldogs play Dartmouth. With a record of 0-3, Dartmouth should be a pushover. But Yale's starting quarterback, though expected to play, was arrested for breach of the peace the other night.
Wonder if David Swensen can throw a down and out?
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1 comment:
I had investment income last year of $1,000, and I had to fork over $280 to the IRS as a result.
Yale had investment income of $2.8 billion last year. That is to say, they earned over $320,000 per hour, 24 hours a day, seven days week, and holidays.
They paid no tax on that at all. I paid $280. There is something wrong with this picture.
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