Investoři z „univerzitní ligy“

Yaleova univerzita, kde vyučuji, svěřuje své dárcovské portfolio již více než 20 let jedinému muži, Davidu Swensenovi. Během tohoto období vzrostla hodnota portfolia z více než jedné miliardy dolarů na miliard osmnáct – průměrný roční výnos tak přesahuje 16%, což je zřejmě nejvíce ze všech významných univerzit. Nic navíc nenasvědčuje tomu, že by se měl výnos do budoucna snížit: v posledním fiskálním roce končícím v červnu činil 22,9%.

Rektoři Yaleovy univerzity přicházejí a odcházejí, ale Swensen zůstává. Pro univerzitu udělal více než kterýkoliv rektor nebo kdokoliv jiný. Na univerzitě mají myšlenky větší hodnotu než peníze, avšak 18 miliard dolarů může vytvořit prostředí pro mnoho nových myšlenek. Při počtu 11 500 studentů to činí více než 1,5 milionu dolarů na studenta (nepočítaje v to univerzitní budovy a sbírku umění, které mají hodnotu dalších mnoha miliard).

Jak se to stalo? Jak Swensen vydělal tolik peněz? Tuto otázku si kladou všichni – a v neposlední řadě i my v Yale.

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