25+ David F. Swensen Quotes On Investment, Endowment And Philanthropy

David F. Swensen is an American businessman and investor. He is the chief investment officer of Yale University and is widely considered to be one of the pioneers of the endowment model of investing. He is the author of the best-selling book, Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment. Following is our collection on famous quotes by David F. Swensen on leadership, life, love.

Top 10 David F. Swensen Quotes

1. Most active mutual funds are more interested in collecting fees than in boosting returns for investors.
2. Never underestimate the gullibility of large pools of money.
3. When you look at the results on an after-fee, after-tax basis over reasonably long periods of time, there's almost no chance that you end up beating the index fund.
4. The true depth of understanding and maturity as a practitioner is how we apply what we've learned to our lives.
5. I believe that the greatest teachers create thinking students.
6. The real riches of yoga cannot be seen; they are felt and experienced from the inside out.
7. I've worked many jobs throughout my life, which has ultimately enhanced my appreciation for the opportunity to teach yoga and share something so positive.
8. A yogi is one who leaves a place a little nicer than when they arrived.
9. Don't let what other people say disturb your mind. Be happy.
10. I've always viewed high-frequency trading as a tax on the rest of us.

David F. Swensen Famous Quotes And Sayings

Active management strategies demand uninstitutional behavior from institutions, creating a paradox that few can unravel. Establishing and maintaining an unconventional investment profile requires acceptance of uncomfortably idiosyncratic portfolios, which frequently appear downright imprudent in the eyes of conventional wisdom. — David F. Swensen

A minuscule 4 percent of funds produce market-beating after-tax results with a scant 0.6 percent (annual) margin of gain. The 96 percent of funds that fail to meet or beat the Vanguard 500 Index Fund lose by a wealth-destroying margin of 4.8 percent per annum. — David F. Swensen

I think nobody is in a position to react to these big macro-issues. Where is the dollar going to be or what is G.D.P. growth going to be in China? For every smart person on one side of the question, there is another smart person on the other side. — David F. Swensen

Practicing yoga is a constant evolution. The Ashtanga system can appear very rigid, with its predetermined sequences, but actually there's great freedom within its structure. From the repetition, we learn to find depth in the minutiae of the actions and the wonder of breath and prana. — David F. Swensen

My first encounter with yoga was in 1969 with my older brother Doug. I was thirteen years old, and he was eighteen. He'd learned about yoga in California on a surfing trip, and when he came back to Houston, Texas, he introduced me to this new stuff he'd learned. I'll always be grateful for that positive influence at an early age. — David F. Swensen

Maybe the yogi is a parent who's a little more patient with their child, or a more compassionate coworker, or an understanding boss. Perhaps, they pick up a piece of trash that wasn't theirs, turn off a light when they're not in the room, or turn off the water while they brush their teeth, sensitive to the finite nature of our worldly resources. When we become mindful this way, there's a ripple effect. We inspire others to do the same. — David F. Swensen

I think regular Iowans are cynical of this whole idea of corporate welfare, with the biggest awards going to the most profitable companies. It doesn't make sense. — David F. Swensen

I've tried many other styles of yoga, but nothing has ever given me the same centeredness, energy, and internal balance that I feel when practicing Ashtanga Yoga. — David F. Swensen

Unless an investor has access to “incredibly high-qualified professionals,” they “should be 100 percent passive - that includes almost all individual investors and most institutional investors. — David F. Swensen

I encourage students to check out different styles of yoga and different teachers even within one system. Seek the teacher that inspires you, and practice the yoga that makes you feel the best. You'll then find the authentic practice for your life and path. — David F. Swensen

Millions of mutual-fund investors sleep well at night, serene in the belief that superior outcomes result from pooling funds with like-minded investors and engaging high-quality investment managers to provide professional insight. The conventional wisdom ends up hopelessly unwise, as evidence shows an overwhelming rate of failure by mutual funds to deliver on promises. — David F. Swensen

My attitude about teaching has always been the same. From early on, I wanted to make yoga accessible so that anyone, regardless of ability, could experience its wonder, joy, and power. I encourage students to question, learn, and develop their own personal practice. — David F. Swensen

Jack Bogle's passionate cry of Enough! contains a thought-provoking litany of life lessons regarding our individual roles in commerce and society. Employing a seamless mix of personal anecdotes, hard evidence and all-too-often-underrated subjective admonitions, Bogle challenges each of us to aspire to become better members of our families, our professions and our communities. Rarely do so few pages provoke so much thought. Read this book. — David F. Swensen

Invest in low-turnover, passively managed index funds... and stay away from profit-driven investment management organizations... The mutual fund industry is a colossal failure... resulting from its systematic exploitation of individual investors... as funds extract enormous sums from investors in exchange for providing a shocking disservice... Excessive management fees take their toll, and manager profits dominate fiduciary responsibility. — David F. Swensen

That which works is authentic. It's a practical truth. What really matters is that we find benefit, regardless of whether it's an ancient traditional approach or some new version, popular or obscure. — David F. Swensen

Life Lessons by David F. Swensen

1. David F. Swensen's work emphasizes the importance of diversifying investments to maximize returns and minimize risk.
2. He also stresses the importance of taking a long-term view of investments and avoiding short-term speculation.
3. Finally, David F. Swensen emphasizes the importance of minimizing costs and fees when investing, as these can significantly reduce returns.