During the bear market of 2001-2002, reports Peter Bernstein in his recently published book Capital Ideas Evolving, Yale rose by 10 per cent while the S&P dropped 30 per cent.
Thursday, August 9, 2007
A great investor with a centuries-long horizon
When he took over the endowment in 1985, it was worth slightly more than $1bn. By June 30 of last year, it had reached $18bn. The best performing US endowment in that time, it has easily beaten the S&P 500 over that period, with staggeringly low volatility.
During the bear market of 2001-2002, reports Peter Bernstein in his recently published book Capital Ideas Evolving, Yale rose by 10 per cent while the S&P dropped 30 per cent.
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During the bear market of 2001-2002, reports Peter Bernstein in his recently published book Capital Ideas Evolving, Yale rose by 10 per cent while the S&P dropped 30 per cent.
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