Sargent: Underperforming global stocks by 0.20% achieved top-quartile foundation performance
Kimberly Sargent · Kimberly Sargent – Passion and Mission at the Packard Foundation (EP.333) · Aug 14, 2023 · at 38:48
Kimberly Sargent, CIO of the David and Lucile Packard Foundation, discusses how mega-cap tech concentration made beating passive benchmarks nearly impossible for active foundation managers.
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“If you underperformed the global stock market by 20 basis points a year for the five years ending twenty-twenty-one, that was top quartile performance.”
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