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David F. Swensen

“Establishing and maintaining an unconventional investment profile requires acceptance of uncomfortably idiosyncratic portfolios, which frequently appear downright imprudent in the eyes of conventional wisdom. Unless institutions maintain contrarian positions through difficult times, the resulting damage of buying high and selling low imposes severe financial and reputational costs on the institution.”

David F. Swensen, Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment, Fully Revised and Updated
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Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment, Fully Revised and Updated Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment, Fully Revised and Updated by David F. Swensen
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