Endowments

Risk Management at UVIMCO

It cannot be emphasized enough how important risk management is, especially during a crisis. UVIMCO measures and controls for market, liquidity, and manager-specific risks based on the risk tolerance of the University. We recognize that no single...

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Harvard Borrows a Billion Dollars

The school is enjoying one of the perks of having triple-A credit. The University will sell up to $573 million in revenue bonds through a state agency, use the proceeds to refinance outstanding debt, and sell $500 million in taxable bonds for...

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Michael Mauboussin on Relative Skill

A few years ago Michael Mauboussin published a paper on what makes for successful investing. Success in investing has two aspects. The first is skill, which requires you to be technically proficient. Technical skills include the ability to find...

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Valuations at Stanford Endowment

The school’s investment office shared in their latest report that they are investing in fewer fund managers. SMC [Stanford Management Company] primarily relies on carefully chosen external partners to select individual securities, allowing...

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