15% International Developed
Swensen PersonalLong
Swensen personal 15% intl developed
Source: Listen
15% TIPS
Swensen PersonalLong
Swensen personal 15% TIPS
Source: Listen
15% US Treasuries
Swensen PersonalLong
Swensen personal 15% US Treasuries
Source: Listen
20% REITs
Swensen PersonalLong
Swensen personal 20% REITs
Source: Listen
20% gold
Golden ButterflyLong
GB 20% gold
Source: encyclopedia
2018 vol regime change
Risk ParityShort
Risk parity 2018 vol regime change struggle
Source: encyclopedia
2021-22 endowment outperformed
EndowmentLong
2021-22 only post-pandemic outperformance
Source: NB
2022 60/40 + RP collapsed
Risk ParityShort
2022 60/40 + RP both collapsed correlation
Source: encyclopedia
2022 worst year
60/40Short
60/40 2022 worst year both fell
Source: encyclopedia
25% gold 25% cash
PermanentLong
Browne 25% gold 25% cash
Source: encyclopedia
25% stocks 25% LT bonds
PermanentLong
Browne 25% stocks 25% LT bonds
Source: encyclopedia
3-fund Boglehead VTI BND VXUS
BogleheadsLong
3-fund Boglehead VTI/BND/VXUS simple
Source: encyclopedia
30% Total Stock Market
Swensen PersonalLong
Swensen personal 30% total stock market
Source: Quantified
30% small value 70% bonds
LarryLong
Larry portfolio 30% small value + 70% bonds
Source: encyclopedia
30Y CAGR 8.18%
Swensen PersonalLong
Swensen personal portfolio 30Y CAGR 8.18%
Source: Lazy
4 economic seasons
All WeatherLong
4 seasons growth/inflation rising/falling
Source: Optimized
40% bonds (LT+ST)
Golden ButterflyLong
GB 40% bonds LT + ST split
Source: encyclopedia
40% bonds 60% across 6 equity
CoffeehouseLong
40% bonds + 6 equity 10% each
Source: encyclopedia
40% stocks (split LCB+SCV)
Golden ButterflyLong
GB 40% stocks LCB + SCV split
Source: encyclopedia
5% Emerging Markets
Swensen PersonalLong
Swensen personal 5% emerging markets
Source: Listen
ADIA Abu Dhabi $1T+
EndowmentLong
ADIA Abu Dhabi Investment Authority $1T+
Source: encyclopedia
APT Ross 1976 multi-factor
ModelsLong
APT Ross 1976 multi-factor model
Source: encyclopedia
AQR Risk Parity Fund
Risk ParityLong
AQR Risk Parity Fund
Source: encyclopedia
Active manager selection
EndowmentLong
Active manager selection in inefficient mkts
Source: Chrono
Age in bonds rule of thumb
LifecycleLong
Age in bonds rule of thumb (or 110-age in stocks)
Source: encyclopedia
All Weather 15% IT bonds
All WeatherLong
All Weather 15% intermediate bonds
Source: Optimized
All Weather 30% stocks
All WeatherLong
All Weather Dalio 30% stocks
Source: Optimized
All Weather 40% LT bonds
All WeatherLong
All Weather 40% LT bonds
Source: Optimized
All Weather 7.5% commodities
All WeatherLong
All Weather 7.5% commodities
Source: Optimized
All Weather 7.5% gold
All WeatherLong
All Weather 7.5% gold
Source: Optimized
Bill Schultheis Coffeehouse
CoffeehouseLong
Bill Schultheis Coffeehouse 7-fund portfolio
Source: encyclopedia
Black-Litterman views
ModelsLong
Black-Litterman views Bayesian allocation
Source: encyclopedia
Bob Prince co-CIO BW
EndowmentLong
Bob Prince Bridgewater co-CIO
Source: encyclopedia
Bogleheads forum community
BogleheadsLong
Bogleheads forum + wiki community
Source: encyclopedia
Bond tent rising equity post-retirement
LifecycleLong
Bond tent rising equity glide post-retire
Source: encyclopedia
Bridgewater 6000+ employees
EndowmentLong
Bridgewater 1500-2000+ employees Westport CT
Source: encyclopedia
Bridgewater pioneer 1996
Risk ParityLong
Bridgewater All Weather pioneer risk parity 1996
Source: Optimized
CAPM Sharpe 1964 beta
ModelsLong
CAPM Sharpe 1964 systematic risk beta
Source: encyclopedia
CIC China Investment Corp
EndowmentLong
CIC China Investment Corporation $1.3T+
Source: encyclopedia
Classic balanced 60/40
60/40Long
Classic 60% equity 40% fixed income
Source: encyclopedia
Dean Takahashi co-creator
EndowmentLong
Dean Takahashi co-creator with Swensen
Source: Quantified
Efficient frontier
ModelsLong
Efficient frontier max return per risk
Source: encyclopedia
Endowment lagged 70/30 decade
EndowmentShort
Endowment lagged 70/30 portfolio past decade
Source: NB
Equal risk contribution
Risk ParityLong
Equal risk contribution allocation
Source: encyclopedia
Equity bias risk-seeking
EndowmentLong
Equity bias risk-seeking less FI low-yield
Source: Chrono
Ergodicity economics Peters
ModelsMulti
Ergodicity economics Ole Peters time avg
Source: encyclopedia
Failsafe Investing book
PermanentLong
Failsafe Investing Browne book
Source: encyclopedia
GIC Singapore SWF
EndowmentLong
GIC Singapore Government Investment Corp
Source: encyclopedia
GPFG Norway largest SWF
EndowmentLong
Norway GPFG largest SWF $2T+ AUM
Source: encyclopedia
Geometric Mean Maximization
ModelsLong
Geometric mean maximization Kelly
Source: encyclopedia
Glide path declining equity
LifecycleLong
Glide path declining equity over time
Source: encyclopedia
Greg Jensen co-CIO BW
EndowmentLong
Greg Jensen Bridgewater co-CIO
Source: encyclopedia
Harvard Mgmt Co HMC
EndowmentLong
Harvard Management Company endowment
Source: encyclopedia
Hierarchical Risk Parity
ModelsLong
Hierarchical Risk Parity Lopez de Prado
Source: encyclopedia
Invesco Balanced-Risk RPAR
Risk ParityMulti
RPAR ETF Toroso Risk Parity ETF
Source: encyclopedia
KIC Korea Investment Corp
EndowmentLong
KIC Korea Investment Corporation
Source: encyclopedia
Karen Karniol-Tambour CIO
EndowmentLong
Karen Karniol-Tambour BW CIO co
Source: encyclopedia
Kelly criterion sizing
ModelsLong
Kelly criterion optimal bet sizing
Source: encyclopedia
Larry Swedroe small value
LarryLong
Larry Swedroe portfolio small value tilt
Source: encyclopedia
Leverage low-vol assets
Risk ParityLong
Leverage low-vol bonds for parity
Source: encyclopedia
Liquidity premium thesis
EndowmentLong
Liquidity premium for illiquid alts thesis
Source: Chrono
Long-term horizon advantage
EndowmentLong
Long-term perpetual horizon advantage
Source: encyclopedia
MIT Investment Mgmt MITIMCo
EndowmentLong
MIT Investment Management Company
Source: encyclopedia
MPT Markowitz 1952
ModelsLong
Modern Portfolio Theory Markowitz 1952 Nobel
Source: encyclopedia
Mean-variance optimization
ModelsLong
Mean-variance optimization classical
Source: encyclopedia
Modern 60/40 stress test
60/40Multi
Modern 60/40 with bond/equity correlation reset
Source: encyclopedia
Mubadala Abu Dhabi
EndowmentMulti
Mubadala Abu Dhabi development holding
Source: encyclopedia
Norway $2T NBIM SWF
EndowmentLong
Norway NBIM $2T SWF Government Pension Fund Global
Source: encyclopedia
Notre Dame heavy alts
EndowmentLong
Notre Dame endowment heavy alts top performer
Source: encyclopedia
PanAgora risk parity
Risk ParityMulti
PanAgora risk parity strategies
Source: encyclopedia
Path dependency wealth
ModelsMulti
Path dependency wealth ergodicity
Source: encyclopedia
Permanent Portfolio Browne
PermanentLong
Permanent Portfolio Harry Browne 25/25/25/25
Source: encyclopedia
Pioneer Portfolio Mgmt 2000
EndowmentLong
Swensen Pioneer Portfolio Management 2000
Source: encyclopedia
Princeton +14% 2024
EndowmentLong
Princeton PRINCO endowment
Source: encyclopedia
Pure Alpha 11.4% 1991-2020
EndowmentLong
Pure Alpha 11.4% annualized 1991-2020
Source: encyclopedia
Pure Alpha leveraged version
All WeatherLong
Pure Alpha leveraged macro version
Source: encyclopedia
QIA Qatar Investment Authority
EndowmentLong
QIA Qatar Investment Authority
Source: encyclopedia
Resampled efficient frontier
ModelsLong
Resampled EF Michaud
Source: encyclopedia
Risk budgeting
ModelsLong
Risk budgeting allocate by risk contrib
Source: encyclopedia
Robust optimization
ModelsLong
Robust optimization uncertainty params
Source: encyclopedia
SAFE State Admin China
EndowmentLong
SAFE State Admin Foreign Exchange China
Source: encyclopedia
SWF heavy public equity
EndowmentLong
SWFs heavy public equity allocation
Source: encyclopedia
Salient Risk Parity Fund
Risk ParityMulti
Salient Risk Parity Fund
Source: encyclopedia
Saudi PIF $930B+
EndowmentLong
Saudi PIF Public Investment Fund $930B+
Source: encyclopedia
Sharpe ratio risk-adjust
ModelsLong
Sharpe ratio risk-adjusted return
Source: encyclopedia
Stanford Mgmt Co
EndowmentLong
Stanford Management Company endowment
Source: encyclopedia
Stay the course discipline
BogleheadsLong
Stay the course Bogle discipline
Source: encyclopedia
Swensen Unconventional Success
EndowmentLong
Swensen Unconventional Success 2005
Source: Listen
Temasek Singapore equity
EndowmentLong
Temasek Singapore equity-focused SWF
Source: encyclopedia
Tony Robbins MONEY book
All WeatherLong
Tony Robbins MONEY popularized All Weather
Source: Optimized
Tyler Portfolio Charts
Golden ButterflyLong
Golden Butterfly Tyler PortfolioCharts
Source: encyclopedia
UPenn investment
EndowmentLong
UPenn endowment management
Source: encyclopedia
Wealthfront Risk Parity Fund
Risk ParityMulti
Wealthfront Risk Parity discontinued
Source: encyclopedia
Yale +13.5%/yr 1985-2021
EndowmentLong
Yale +13.5%/yr 1985-2021 under Swensen
Source: encyclopedia
Yale 22% venture capital
EndowmentLong
Yale 2024 22% venture capital
Source: encyclopedia
Yale 23% leveraged buyouts
EndowmentLong
Yale 2024 23% leveraged buyouts
Source: encyclopedia
Yale 30% stocks 30% bonds 40% alts
EndowmentLong
Yale Swensen 30/30/40 alt-heavy
Source: Quantified
Yale 35% absolute return
EndowmentLong
Yale 2024 35% absolute return
Source: encyclopedia
Yale Model 1985 Swensen
EndowmentLong
Yale Model David Swensen 1985-2021 d.May 2021
Source: Optimized
Yale endow $1.3B → $42B
EndowmentLong
Yale endowment $1.3B → $42B 1985-2021
Source: Optimized
An encyclopedia of publicly documented strategies for education. YCAI does not recommend, endorse, or trade any of these. Not investment advice.