David Swensen, every mention
46 scenes (2023) · ← back to David Swensen
tap a year for its mentions
every year 2023 anyone Ted Seides 293Charlie Ellis 43Alan Forman 31Tim Sullivan 19Kimberly Sargent 19Kip McDaniel 17Ben Inker 15Cameron Passmore 13Anne Martin 12Patrick O'Shaughnessy 11
Verbatim, from the transcripts: the passages where David Swensen comes up
Gary Sernovitz - Inside the CIO Seat (EP.357)
- ▶ 41:22 Gary Sernovitz But, you know, you reverse engineer it, and it's like Swenson. 2 times in the scene
- ▶ 44:55 Gary Sernovitz Ellen Schumann line of the Swenson Tree, of the Ellen Schumann branch, and so this is Lisa Maul, and Kim Liu, and Meredith Jenkins, and now it's Brian Ken Lee, and their curiosity of people, and motivations, and how you think.
Ted Seides – Unlocking Investment Wisdom (EP.352)
- ▶ 6:41 Sarah Samuels And you were trained under David Swenson. 3 times in the scene
- ▶ 8:41 Ted Seides So I was there from 1992 to 1997, and the reason those years are relevant is David didn't write his seminal book until 2000. 5 times in the scene
- ▶ 14:15 Ted Seides As I mentioned, there weren't any other opportunities, and David really liked keeping things quiet and insular. 2 times in the scene
- ▶ 25:38 unnamed speaker David wrote his book to share a way of thinking about investing. 14 times in the scene
- ▶ 28:39 Sarah Samuels So what portfolio would David build today? 3 times in the scene
Bruce Ou – Private Market Investing at GroveStreet (EP.347)
Alan Forman – Yale Endowment Real Estate (EP.340)
- ▶ 4:37 Ted Seides For three decades, Alan was one of the core four at Yale, alongside David Swenson, Dean Takahashi, and Tim Sullivan.
- ▶ 7:26 Alan Forman I interviewed for the job, and it took a few months to get through the process, and I picked up and moved to New Haven and was working for some guy named David Swenson that nobody had ever heard of before. 2 times in the scene
- ▶ 9:14 Alan Forman And we were going to see them, and I said to David, do you want me in this meeting? 2 times in the scene
- ▶ 20:03 Alan Forman Early on, Dave was very involved, maybe even in first meetings in many cases. 10 times in the scene
- ▶ 22:25 Alan Forman Also, David was very focused on the mission of the organization and Yale specifically, whether it was basketball games or financial aid or working with students, and that was fantastic.
- ▶ 26:30 Alan Forman And myself and one of my colleagues went to David and the president of Yale, and we said, we have a plan to redevelop this asset.
- ▶ 28:27 Alan Forman David Swenson was a first principles investor, and he looked at the real estate business in the eighties and said, this doesn't make any sense. 6 times in the scene
- ▶ 48:06 Ted Seides I'm coming from the lens of knowing that David wasn't particularly fond of any outside ownership. 3 times in the scene
- ▶ 51:38 Alan Forman It was funny because I said to David at my 30th review, I've done this for 30 years. 6 times in the scene
- ▶ 54:58 Alan Forman I would have to say David and Ellen Schumann. 3 times in the scene
WTT: The Real Yale Model
- ▶ 0:05 Ted Seides A few weeks ago, somewhere on a sunny beach, I sat down with David Swenson's revised edition of Pioneering Portfolio Management that he wrote just before the financial crisis and published in nine, nine years after his original work. 5 times in the scene
- ▶ 1:08 Ted Seides The Yale model in David Swenson's words. 5 times in the scene
- ▶ 3:00 Ted Seides David's words of warning. 6 times in the scene
- ▶ 4:56 Ted Seides What David said on illiquidity. 15 times in the scene
- ▶ 7:38 Ted Seides What David said on asset allocation. 4 times in the scene
- ▶ 8:55 Ted Seides What David said on active management. 8 times in the scene
- ▶ 10:06 Ted Seides What David said on private equity and venture capital. 6 times in the scene
- ▶ 11:47 Ted Seides What David said on rebalancing. 5 times in the scene
- ▶ 12:49 Ted Seides What David didn't say. 10 times in the scene
Stan Miranda – Modern Endowment Model at Partners Capital (EP.334)
- ▶ 10:56 Stan Miranda We just went to the next asset class, and the next asset class, and the next asset class, pulled out a blank sheet of paper, reminded ourselves what the Swenson book said, but really pulled out a blank sheet of paper and said, how do we…
- ▶ 16:48 Stan Miranda May not be your definition, may not even be David Swenson's definition, but it had three pillars. 2 times in the scene
Kimberly Sargent – Passion and Mission at the Packard Foundation (EP.333)
- ▶ 4:34 Ted Seides Kim is a well-respected member of the Yale diaspora, having started her career under David Swenson. 2 times in the scene
- ▶ 7:25 Kimberly Sargent By the grace of people doing me favors, someone ended up introducing me to David Swenson, and he hired me, and he took a chance on me, and here I am. 16 times in the scene
- ▶ 12:10 Kimberly Sargent I think I read Dave's pioneering portfolio management and underlined and highlighted three times.
- ▶ 55:25 Kimberly Sargent Well, we talked about David, not only because he got me into this industry and took a chance on me, for which I'm very grateful. 2 times in the scene
Ted Seides – The Art of the Interview (EP.330)
- ▶ 13:18 Ted Seides I saw this intuitively that David Swenson would do. 2 times in the scene
- ▶ 57:31 Ted Seides Dave Swenson was my doubles partner at the New Haven Lawn Club. 4 times in the scene
Seth Klarman – Timeless Value Investing (EP.328)
- ▶ 1:13:36 Seth Klarman The endowment world, following your and my mentor's wisdom, Dave Swenson,
- ▶ 1:19:19 Seth Klarman And then Seth Alexander, who's another wonderful protege of Dave Swenson, and somebody you and I both know and appreciate, wrote about endowment management.
Adam Shapiro – Post-Breeding Grounds for Rising Stars and Families (Capital Allocators, EP.319)
- ▶ 36:30 Adam Shapiro Should have the option to spend 95 plus percent of their time not thinking about investing, but should have the level of care that you would expect if you were the Yale endowment and your money was being managed by David Swenson, or now,…
- ▶ 42:53 Adam Shapiro When we first created our business, we were very much inspired by David Swenson, the Yale endowment, and the endowment model, but we also had quite a different perspective on how to build the portfolio.
Amy Falls – From Bonds to Boards to Leading Northwestern (Capital Allocators, EP.316)
- ▶ 11:26 Amy Falls In 1998 or nine, and so I did, and that just really opened my mind to this whole world of endowment management, and at the same time, Barton Biggs, who I adored, periodically would write a book report, because he was, maybe didn't want to… 3 times in the scene
- ▶ 27:54 Amy Falls One of the things we talked about was David's view of culling versus weeding.
- ▶ 1:05:18 Amy Falls It's really hard to pick two, but it's really easy to say David Swenson had the biggest impact, but there have been many others. 2 times in the scene
Ashby Monk – Investor Identity, Navigation, and Resilience (Capital Allocators, EP.312)
- ▶ 43:59 Ashby Monk Everybody has tried to copy the Swenson model, so you can understand why they're so careful.
Tom Steyer – Investing to Save Humanity (Climate Solutions EP.1, Capital Allocators EP. 300)
- ▶ 1:10:10 Tom Steyer In terms of people who are professional counterparts or partners for me, the three people who were in senior positions and really impacted me were Bob Rubin, Warren Hellman, and David Swenson, who was the head of the Yale Investment Office.
Venture Capital Panel – Beezer Clarkson, Chris Douvos, and Joelle Kayden (Capital Allocators, EP.299)
- ▶ 25:04 Chris Douvos And it made me think of, you know, David Swenson once said the secret to Yale success in private markets was that they got off the bus one stop too early rather than one stop too late.
- ▶ 45:28 Chris Douvos And we've all got, like, an example of that, and that, that really kind of tugs at my, like, you know, Swenson-esque, get off the bus, one stop too early rationale.