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Discusses how the investment goals of academic endowments, to preserve their capital and have a high enough return to spend earnings, can also work for individuals and what strategies can be adapted from the portfolios of successful schools.
List of contents
Acknowledgments v
Introduction: Why You Should Invest Like an Endowment vii
Part I: Investment 101: An Introduction to the Endowment Philosophy of Investing Chapter 1 The Current Environment and the Need for New Thinking 3
Chapter 2 Common Investment Mistakes 13
Chapter 3 Diversification: The Best Investment Strategy 25
Chapter 4 Skill-Based Money Managers versus Style Box-Based Money Managers 35
Chapter 5 Introduction to the Endowment Philosophy 53
Chapter 6 Why Large Endowments Outperform the Market and How You Can, Too! 63
Part II: Investment Vehicles Chapter 7 Mutual Funds, Separately Managed Accounts, Exchange-Traded Funds, and Exchange-Traded Notes 79
Chapter 8 Structured Products 89
Chapter 9 Hedge Funds and Funds of Funds 97
Part III: Endowment Asset Classes and Investing Strategies Chapter 10 Absolute Return 121
Chapter 11 Stocks 129
Chapter 12 Bonds 139
Chapter 13 Real Assets and Commodities 151
Chapter 14 Managed Futures 165
Chapter 15 Private Equity 177
Chapter 16 Managing Some of Your Money In-House 185
Chapter 17 Portable Alpha 197
Part IV: Designing Your Portfolio Chapter 18 Suggested Allocations 211
Chapter 19 Choosing and Managing Money Managers 217
Chapter 20 Putting It All Together 227
Chapter 21 Putting It in Writing: The Investment Policy Statement 243
Final Thoughts 259
Appendix: Key Terms 261
About the Author 269
Index 271
About 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.
Summary
Harvard, Yale, and other large college endowments consistently beat the stock market while taking less risk. While individual investors don't have access to many of the money managers and vehicles that these endowments use, they can still learn and implement a lot from their investment strategies.
