Real estate—housing in particular—is a less profitable investment in the long run than
previously thought. We hand-collect property-level financial data for the institutional real …

Abstract John Maynard Keynes made a major contribution to the development of
professional investment management. Based on detailed archival research at King's …

The consensus view of the influential economist John Maynard Keynes is that he was a
stellar investor. We provide an extensive quantitative appraisal of his performance over a …

Why did so many American universities find themselves with such troubling liquidity issues
during the Great Recession of 2008 and 2009 when their endowments suffered large …

University endowments invest for future generations, so their strategy should reflect their
long horizon. We researched whether they really do behave like long-term investors. We …

There is significant interest in how university endowments manage money and perform, and
an emerging strand of finance research specializes in this growing area. The purpose of this …

Scientific funding within the academy is an often complicated affair involving disparate and
competing interests. Private universities, for instance, are vastly outpacing public institutions …

This article examines in detail how John Maynard Keynes approached investing in the US
stock market on behalf of his Cambridge College after the 1929 Wall Street Crash. We …

The US endowment model is an approach to investing popularized by Yale University that
emphasizes diversification and active management of equity-oriented, illiquid assets. The …

Higher education (ie, colleges and universities) is one of the 13 broad categories of
nonprofits that comprise the 1.5 million nonprofit (NFP) organizations in the United States …