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Interview with Swensen: yalealumnimagazine.com/articles/2398-…
"Asset allocation is the tool that you use to determine the risk and return characteristics of your portfolio... studies show that asset allocation is responsible for > 100% of the positive returns generated by investors."
"Asset allocation is the tool that you use to determine the risk and return characteristics of your portfolio... studies show that asset allocation is responsible for > 100% of the positive returns generated by investors."
"The most sensible approach is to come up with specific asset allocation targets that you can implement with low-cost, passively managed index funds and rebalance regularly. You'll end up beating the overwhelming majority of participants in the financial markets." David Swensen
"The investor is bombarded with staggering amounts of information, staggering amounts of stimuli that are designed to get the investor to buy, sell and trade - to do exactly the wrong thing, to create profits for intermediaries that aren't acting in the investor's best interest."
