No. of Recommendations: 5
I was surprised to read Yale's Endowment is only 3% Domestic Stocks. Much larger positions in long/short hedge funds and venture capital.

"Today, domestic marketable securities account for less than one-tenth of the portfolio, while foreign equity, private equity, absolute return strategies, and real assets represent over nine-tenths of the Endowment."
http://investments.yale.edu/

Yale 2019 Asset Allocation targets:
26.0% Absolute Return Funds
18.0% Venture Capital
15.5% Foreign Stocks
15.0% Leveraged Buyouts
9.5% Real Estate
6.5% Natural Resources
6.5% Fixed Income and Cash
3.0% Domestic Stocks
https://www.financialsamurai.com/a-look-inside-investment-as...

"The Yale Endowment is one of the most successful institutional investors in the world, averaging an 8.1% annual return over the last decade; through June 2013, Yale’s 25-year average annualized performance topped 13%."
“[Low-cost passive index strategies] make sense for organizations lacking the resources and capabilities to pursue successful active management programs, a group that arguably includes a substantial majority of endowments and foundations,” Yale writes.
"Simply stated, Yale thinks low-cost index funds are good, they are just not good for Yale."
https://finance.yahoo.com/news/yale-slammed-warren-buffetts-...
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