Archive for March 2009
David Swensen revises asset allocation for individual investors
Posted by: Michael Zhuang on: March 25, 2009
In his book Unconventional Success: A Fundamental Approach to Personal Investment, Swensen recommends the following allocations, for individual investors who want a “well-diversified, equity-oriented portfolio”: 30% Domestic stock funds 20% Real estate investment trusts 15% U.S. Treasury bonds 15% U.S. Treasury inflation-protected securities 15% Foreign developed-market stock funds 5% Emerging-market stock funds In an interview [...]
What (not) to learn from Harvard and Yale endowments’ investment approach
Posted by: Michael Zhuang on: March 20, 2009
University endowments are important institutions. They play a critical role in maintaining the academic excellence of the universities that rely heavily on their income. Recently, these endowments have drawn much attention because of their superior investment returns compared to other institution investors, such as investment banks and insurance companies. There is much diversity among university [...]
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Michael Zhuang is principal of MZ Capital, a fee-only independent advisory firm applying David Swensen's insights for clients. He is also a regular contributor to Morningstar Advisor. To use his wealth management services, schedule a discovery meeting (phone call) with him.
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