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David Swenson is an investment success story. As overseer of Yale University’s endowment fund for the last 20 years, he has helped it grow to $15 billion by beating the stock market with annualized returns of 16% per year. Swenson hires and oversees active money managers who buy and sell based on their outlooks for individual stocks, industries, and the […]

How many times have you assumed that what’s happened in the past will continue in the future? For instance, if your trash collector has been showing up early every morning, it seems a pretty good bet that you better get the garbage out the night before, rather than waiting until after breakfast on pickup day. He won’t necessarily show up […]