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February 25, 2008

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If Im not mistaken he is also the top performing investor for endowments in the last 15 years averaging something like 15% per year. Not too shabby!

Swensen's latest book "Unconventional Success" is a must read. I cannot imagine anybody investing in actively managed mutual funds after reading this book. It's not an easy read, but it's worth the investment of your time.

I second the Unconventional Success recommendation. Swenson's asset allocation is very unorthodox. He invests heavily in market-neutral strategies, commodities (especially timber), and real estate. His strategy probably isn't practical for most indvidual investors because large forests are expensive and good hedge funds difficult to get into unless you pony up millions. Still a good primer on the virtues of diversification, though.

I completely agree with this guy! That is why I never mention individual stocks. I don't believe ANY one can ever truly predict the performance of any individual stock. Even so called experts do not really know what will happen. The best course is thus to stick with broad index funds in sectors you have long term faith in and let compounding take its long term course.
-Raymond

That's some controvercial advice from a guy that is paid to beat the market. I do agree though that the majority of investors underperform the stock market for a variety of reasons.
As for investing in timber, you can buy timber REITS - PCL and RYN are two that come to mind.

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