David F Swensen is Yale University's CIO and manages the university's USD7 billion dollar endowment as well as several hundreds of millions of dollars in other investment funds. He also serves as a trustee and director on various investment boards and teaches at Yale.
"Mutual fund managers and marketers are not going to like David
Swensen's thoughtful and intelligently opinionated analysis of
their 'colossal failure' resulting from the fund industry's
'systemic exploitation of investors.' Coming from the mind and
heart of one of America's most successful and integrity-laden money
managers, this is a book that will change the way you think about
mutual funds. It's high time for you to follow the elegantly simple
advice he presents in this wonderful book."
-- John C. Bogle, founder and former CEO, The Vanguard Group
"Swensen is the best. Always a pioneer, his new book presents an
approach to investing that is both brilliant and practical."
-- Barton Biggs, former Chief Global Strategist, Morgan Stanley
"A legendary institutional investor reveals the conflicts of
interest that induce most financial services companies to provide
inadequate products for the individual investor. Swensen's wise
solution: Low cost, tax efficient, market-mimicking funds available
either through Exchange Traded Funds (ETFs) or from not-for-profit
mutual fund companies. Unconventional Success does for the
individual investor what Swensen's Pioneering Portfolio Management
did for the institutional investor."
-- Burton G. Malkiel, author of A Random Walk Down Wall Street
"David Swensen is one of today's best endowment managers, if not
the best. Unconventional Success is a perfect summary of what is
wrong with a very important industry. This book should lead the
reader to better investment decisions."
-- Michael F. Price, Managing Partner, MFP Investors
"Unfortunately, at the bottom of our industry -- money management
-- there is a rather thick layer of muck, and Swensen's
Unconventional Success rakes through this muck in spectacular
fashion and great detail. It is the truth, the whole truth, and the
very ugly truth. If you want to avoid the snares that lurk in money
management, and save yourself lots of money, you must read it."
-- Jeremy Grantham, Chairman of GMO
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