Wise Words from David Swensen

Here's a recent NPR interview (print and audio) with David Swensen who manages Yale University's endowment.  Over the past twenty years he's averaged a 16 percent return for the endowment and is one's of the world's best investors.  He's generally an advocate of passive investing and has also written a couple of excellent books including Unconventional Success: A Fundamental Approach to Personal Investment which is on my "Recommended Reading" list.

The events of the past six months have created fear and panic not seen since the Great Depression. This fear, which in many ways is justifiable, has led most individuals to question the investment strategy they have chosen and whether it is still viable.  Swensen's got some excellent advice for anyone who is wrestling with such issues.