Meyer is launching a HF now, as it looks it will be the biggest launch ever with 5-6 billion, twice as big as Eton Park, him and Swensen have done well, the rest is sheep.
Sour grapes? The Yale guy works too cheaply. Anyway, it's slightly amusing that it's okay for upper-tier Ivy League schools to have huge exposure to equities in the form of hedge funds, buy-out funds, merchant banking funds et al while everyone else can only engage in passive indexation. As long as the overall market remains stable, Harvard & Yale won't become the next trading debacle a la LTCM, Orange County, Metallgesellschaft et al. Their upcoming annual returns should be dipping below their long-term average. We'll see.
Actually, Swenson ranks in the 99th percentile of institutional investors. The returns made by the Yale endowment over the past 20 years have been nothing short of phenomenal. How many posters on ET have made a 16% return per annualized over 20 years?