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09-24-2009, 01:05 PM
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#21
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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 Quote:
Originally Posted by cardude
If I'm reading this right, the endowment needs to throw off 44% of 2.7B, or 1.188B per year. That's a withdrawal rate of 6.9%, which does not seem to safe or sustainable to me. Even before the big loss the withdrawal rate was over 5%. How does the endowment keep up? Has the WR always been this high?
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Don't forget that donations are still coming into the endowment. So in reality, you'd have to subtract the current annual donations from the $1.188 billion to find out the "normalized" withdrawal rate.
For example, if a $1B endowment paid out $69M BUT also received $30M in donations, they've really experienced a net outgo of $39M of its starting capital -- a 3.9% drawdown rate.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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09-30-2009, 09:11 AM
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#22
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Thinks s/he gets paid by the post
Join Date: May 2008
Location: Cooksburg,PA
Posts: 1,874
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Yale Info
Thought I would post the info that I found on the Yale Endowment.
They are required to post their public holdings to the SEC on a quarterly basis in a 13F report. This is available online at the EDGAR database.
Also having trouble getting the table into this post. See the attachment. More later.
Free to canoe
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10-04-2009, 03:52 PM
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#23
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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Quote:
Originally Posted by Free To Canoe
Thought I would post the info that I found on the Yale Endowment.
They are required to post their public holdings to the SEC on a quarterly basis in a 13F report. This is available online at the EDGAR database.
Also having trouble getting the table into this post. See the attachment. More later.
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Looks like they were getting out of Emerging Markets at exactly the wrong time. Just about the polar opposite of what I was doing in late 2008. Piling into emerging markets was a good short term investment in hindsight. It gives me a little pleasure to think that I was buying Yale's garbage the whole time, and making out like a bandit.
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Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (8, 13, and 15).
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10-05-2009, 02:49 PM
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#24
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Thinks s/he gets paid by the post
Join Date: May 2008
Location: Cooksburg,PA
Posts: 1,874
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Quote:
Originally Posted by FUEGO
Looks like they were getting out of Emerging Markets at exactly the wrong time. Just about the polar opposite of what I was doing in late 2008. Piling into emerging markets was a good short term investment in hindsight. It gives me a little pleasure to think that I was buying Yale's garbage the whole time, and making out like a bandit.
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Yea, me too.
A couple of things that I learned about Swenson lately:
The 13F reports do not come out soon enough to warn of anything. Information in November showed that he was getting out of the market but by then it was time to buy.
I was listening to him give a lecture about portfolio management to an econ class at Yale. He was talking about not market timing and that his asset allocation changes very little year to year. My spreadsheet made from the Edgar reports tells a different story. He speaks with forked tongue.
Free
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10-19-2009, 06:04 AM
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#25
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 2,844
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Quote:
Originally Posted by haha
This seems quite a stretch. Can you give any examples of where and when this has happened?
Ha
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THe White House actually has commented that this is one of the best uses of stimulus money yesterday
White House says stimulus saving education jobs - Yahoo! News
__________________
But then what do I really know?
https://www.early-retirement.org/forums/f44/why-i-believe-we-are-about-to-embark-on-a-historic-bull-market-run-101268.html
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