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How Harvard and Yale Beat the Market: What Individual Investors Can Learn from University Endowments to Help Them Prosper in an Uncertain Market

Overview

Large university endowments like Harvard and Yale have always had to be more innovative than most institutional investors, as they have an almost impossible investment mandate—generate a large enough real return (return after inflation) so the endowment can spend money and avoid risks that could subject the endowment to any losses.

By thinking outside the box about how a portfolio should be managed, many endowments have outperformed the market over the years. Now, with How ...

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Overview

Large university endowments like Harvard and Yale have always had to be more innovative than most institutional investors, as they have an almost impossible investment mandate—generate a large enough real return (return after inflation) so the endowment can spend money and avoid risks that could subject the endowment to any losses.

By thinking outside the box about how a portfolio should be managed, many endowments have outperformed the market over the years. Now, with How Harvard and Yale Beat the Market, you'll become familiar with the endowment philosophy of investing and discover how to structure your individual investment endeavors around an endowment-type portfolio.

Author Matthew Tuttle has been involved with the markets in one way or another for almost two decades. During this time, he's developed an in-depth understanding of how large university endowments work and created portfolios for clien-ts based on their investment strategies. With How Harvard and Yale Beat the Market, he shares his extensive experiences with you and puts this proven approach in perspective.

Divided into four comprehensive parts, How Harvard and Yale Beat the Market addresses everything from basic endowment investing principles to integrating endowments' ideas into a profitable portfolio. But before Tuttle talks about how you can invest like an endowment, he discusses the current financial environment and its implications for investors in Part I. In doing so, Tuttle explores why investors make the mistakes they do and how you can avoid them. He also begins to lay the groundwork for thinking about your portfolio the same way endowments do, by examining the issues of endowment portfolio theory, true diversification, and skill-based money managers.

After this informative introduction:

Part II details the different investment vehicles—separately managed accounts (SMAs), exchange traded funds (ETFs), mutual funds, hedge funds, and structured products—you can use to create an endowment type of investment portfolio

Part III highlights the various asset classes-- and strategies—from stocks, managed futures, and private equity to portable alpha—you may want to consider for your portfolio

Part IV takes what you've learned and shows you how to apply it when designing your own portfolio

Large university endowments like Harvard and Yale have revolutionized the investment landscape. Following in their footsteps can deliver consistent performance through superior money manager selection, asset allocation, and portfolio construction. With How Harvard and Yale Beat the Market, you won't need a multimillion-dollar portfolio to invest like an endowment because you'll have the insights and understanding to take on the market at a much more personal level.

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Product Details

  • ISBN-13: 9780470401767
  • Publisher: Wiley
  • Publication date: 4/6/2009
  • Edition number: 1
  • Pages: 276
  • Sales rank: 1,011,687
  • Product dimensions: 6.20 (w) x 9.10 (h) x 1.20 (d)

Meet the Author

Matthew Tuttle, CFP, is a partner in the Private Client Group, LLC, and the President of Tuttle Wealth Management, LLC (an investment management strategic alliance of the Private Client Group, LLC). He has been interviewed on CNBC and CNNfn, and is a frequent contributor to Forbes.com, the Wall Street Journal, SmartMoney, and Dow Jones Newswires.

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Table of Contents

Acknowledgments.

Introduction: Why You Should Invest Like an Endowment.

Part I. Investment 101 - An Introduction to the Endowment Philosophy of Investing.

Chapter 1. The Current Environment and the Need for New Thinking.

Chapter 2. Common Investment Mistakes.

Chapter 3. Diversification - The Best Investment Strategy.

Chapter 4. Skill Based Money Managers vs. Style Box Based Money Managers.

Chapter 5. Introduction to the Endowment Philosophy.

Chapter 6. Why Large Endowments Outperform and How You Can Too!

Part II. Investment Vehicles.

Chapter 7. Mutual Funds, Separately Managed Accounts (SMAs), Exchange Traded Funds (ETFs), and Exchange Traded Notes (ETNs).

Chapter 8. Structured Products.

Chapter 9. Hedge Funds & Fund of Funds.

Part III. Endowment Asset Classes and Investing Strategies.

Chapter 10. Absolute Return.

Chapter 11. Stocks.

Chapter 12. Bonds.

Chapter 13. Real Assets and Commodities.

Chapter 14. Managed Futures.

Chapter 15. Private Equity.

Chapter 16. Managing Some of Your Money “In House”.

Chapter 17. Portable Alpha.

Part IV. Designing Your Portfolio.

Chapter 18. Suggested Allocations.

Chapter 19. Choosing and Managing Money Managers.

Chapter 20. Putting it All Together.

Chapter 21. Putting it in Writing - The Investment Policy Statement.

Final Thoughts.

Appendix. Key Terms.

About the Author.

Index.

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