Drobny: Endowments are not smart money; committees just fund obvious investments
Steve Drobny · Steve Drobny – Where the World is Going at Clocktower Group (Manager Meeting, 30) · May 5, 2022 · at 39:33
Clocktower Group founder Steve Drobny critiques the institutional endowment governance model in conversation with veteran endowment CIO Paula Volent.
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“People think endowments are the smart money, and I disagree. I think endowments are often run by committee And of a dozen smart people in the room that are paid a lot of money that give money to the obvious stuff. And committees kind of push people towards that direction.”
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