David Swensen Insight

Archive for the ‘market timing’ Category

On his anticipation of the crisis

We were absolutely aware of potential issues. And that was months before Bear Stearns. That said, we weren’t prepared for the magnitude of the crisis, or its duration.

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David Swensen told German newspaper Frankfurter Allgemeine Sonntagszeitung in an interview published on Sunday:

Now is a better time to buy equities than six months ago, one year ago or five years ago. One thing is certain: If I now had government bonds, I would consider selling them and invest the money in everything else.

David Swensen, Yale’s Chief Investment Officer and manager of the University’s endowment, discusses the tactics and tools that Yale and other endowments use to create long-term, positive investment returns. He emphasizes the importance of asset allocation and diversification and the limited effects of market timing and security selection.

Get my white paper: The Informed Investor: 5 Key Concepts for Financial Success.

In a recent ABC news piece, Dr. David Swensen, manager of $34 billion Yale Endowment had this to say about Jim Cramer:

On ‘Mad Money,’ Cramer promotes a mindless short-term approach to markets by encouraging frenetic trading of individual stocks. Such a high-cost, tax-inefficient strategy almost guarantees failure.

In the same article, my view on Jim Cramer was also mentioned:

Zhuang is no fan of Cramer. Like Swensen and Ehrenberg, he argues against frequent trades and says Cramer may be influencing investors to overreact to financial news.

Get my white paper: The Informed Investor: 5 Key Concepts for Financial Success.


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