David F. Swensen (1954–2021) was the chief investment officer of Yale University and the bestselling author of Pioneering Portfolio Management. He served on the boards of TIAA, The Brookings Institution, Carnegie Institution, and Hopkins School. At Yale, where he produced an unparalleled two-decade investment record of 16.1 percent-per-annum returns, he taught economics classes at Yale College and finance classes at Yale's School of Management.
Barton M. Biggs, Chairman, Morgan Stanley Dean Witter Investment
ManagementDavid Swensen is one of the best and most original
fiduciaries of modern times. His thinking has survived the
battlefields and it has worked for big money.
Burton G. Malkiel, Chemical BankChairman's Professor of Economics, Princeton UniversityOne of the world's most successful institutional fund managers presents powerful insights to help us become better investors. A must-read for both institutional and serious individual investors.
Jack R. Meyer, President and CEO, Harvard Management Company, Inc.A masterful work by the master himself. We at Harvard wish that David Swensen would find a new job.
Peter L. Bernstein, PresidentPeter L. Bernstein, Inc.This book will be a classic: it is essential reading for all investors, great and small. David Swensen is a leader and pioneer whose words reveal a rare combination of courage, integrity, and intelligence. No one can fail to find value here.
Richard C. LevinF.W. Beinecke Professor of Economics and President, Yale UniversityDavid Swensen's creative and disciplined approach to investment has given Yale the resources it needs to augment its capacity for excellence in scholarship and teaching. Those who absorb the wisdom in this book will likewise strengthen the institutions they serve.