The Harvard and Yale Endowments 2009 Updates

Yale 2009 Endowment Report

Harvard 2009 Endowment Report

On the last page Mendillo had these two rather odd quotes that seem, at least to me, to be a bit contradictory (not to mention something I would have just followed with “Did I just say that out loud?”):

“Overall, our risk management was adequate.”

“We kept the ship righted in a real-life correction that exceeded our most extreme theoretical stress tests.”


Hulbert on the 200 day SMA.  He never mentions in any of his articles that the main feature of a trendfollowing system is risk reduction (vol and drawdown) and not an increase in absolute return. (HT: GA)


Listed vs. non-listed from AllAboutAlpha.


I haven’t read any of these reports yet but they look interesting – from QSG.


Just got back from giving a speech in Portland – I love that town!