Yale's Levin on the Age of Diminishing Endowments - WSJ.com

Yale's Levin on the Age of Diminishing Endowments - WSJ.com: "University endowments once invested primarily in stocks and bonds. Yale's longtime chief investment officer, David Swensen, pioneered a new strategy that found better returns in less traditional vehicles like hedge funds, private equity partnerships and real estate. The Swensen approach produced a 16% average annual return the past