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"Extraordinary Success: The Secret to Winning Personal Investing" by David Swensen
"Extraordinary Success: The Secret to Winning Personal Investing" by David Swensen
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Description
Introduction · · · · · ·
David F. Swensen is the bestselling author of Institutional Investing. This book is his next major contribution to the study of how individual investors manage their own financial assets. In Extraordinary Success: The Best Strategies for Individual Investing, legendary investor David F. Swensen lays out irrefutable evidence that the profit-oriented mutual fund industry has failed to outperform the average investor. From excessive management fees to frequent portfolio rebalancing to earn commissions, mutual fund management companies' endless pursuit of profits hurts the interests of fund trustees. Although some people can escape unscathed by the profit-seeking mutual fund industry, individual investors can still suffer from self-inflicted damage. Simply put, the average investor faces almost insurmountable difficulties.
What is David F. Swensen's solution? His solution: Break out of the box and invest in alternatives. That is, choose a well-diversified, stock-oriented, market-tracking portfolio that rewards investors with the courage to stick with it. David F. Swensen recommends that you adopt his investor-friendly, nonconformist advice and choose investment companies that are not profit-oriented. By staying away from actively managed funds and choosing mutual fund managers who are loyal to their clients' interests, investors can create the prerequisites for their own successful investments.
What is the essence of investment? The book "Extraordinary Success: The Best Strategy for Personal Investment" provides the corresponding investment principles and professional skills for individual investors on their path to wealth.
About the Author · · · · · ·
David F. Swensen
In his early years, he studied under Nobel Prize winner Tobin and made his mark on Wall Street. Later, at the invitation of his mentor, he became the chief investment officer of Yale University in 1985 and taught at the Yale School of Business. During his more than 20 years of leadership, the Yale Endowment Fund achieved an average annual return of nearly 17%, which was unmatched by any of his peers.
Swensen has long taught undergraduate and management courses at Yale University. The talents trained by Swensen have not only achieved outstanding results at Yale, but also provided leadership to important investment institutions such as Harvard University Endowment Fund, MIT Endowment Fund, Princeton University Endowment Fund, Rockefeller Foundation, Hilton Foundation, and Carnegie Foundation.
The "Yale Model" led by Swensen made him the godfather of institutional investment. Barton Biggs, former chairman of Morgan Stanley Investment Management, said: "There are only two truly great investors in the world, and they are Swensen and Buffett."
