Yale's investment guru offers investing tip for retirees

NPR offers a nicely assembled page associated with David Swensen's Oct. 5 interview on All Things Considered. You can hear the interview, see Swensen's recommended asset allocation for individuals, and scan a 60-second summary of his book. Swensen's investment tip for retirees: Maintain your growth-oriented asset allocation but skim something off the top to create a cash reserve. Jonathon Clements of The Wall Street Journal used to make a similar suggestion: Stay with equities but set aside enough cash to live on for three years, just in case the market crashes. Football update:.Yale beat Dartmouth, 26-14.