Endowment Portfolio
topic on 1 show · 2 statements across 2 episodes
2 statements about Endowment Portfolio, every show
Fixed volatility budgets force endowment managers to sell low and buy high
“A lot of people out there in our business think about the average endowment portfolio should have 10% standard deviation around its annual returns, 10% volatility budget, which makes no sense, because what happens when markets go down, volatility goes up, all …”
Spitz: Most Mid-1980s Endowments Kept Conservative, Simple Portfolios
“In general, I think endowment portfolios were still relatively conservative and relatively simple in their structure. Now, Harvard had obviously evolved. Yale was beginning to evolve. Notre Dame and Duke and some others were starting down that path, but it was…”