By Hicbd
Tue Sep 12 2023 11:58 am
"Siegel makes the case for a kind of exceptionalism on the part of endowed institutions that should enable them to outperform other types of institutional investor. He discusses their freedom to invest without constraint... The similarities of endowment and public pension funds as institutional investors are considerable. There are, however, two important institutional differences. One is the amount they expend on investment management. The other is the degree of risk they assume."
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