My meeting with David Swensen in 2004

Not everybody invests in Private Equity but if you do......

David Swensen was in Lisbon in 2004 to speak in a BPI event  and his message was:

Equity mentality. Only buy things that can make equity like returns. Forget bonds & cash.

The difference between the best & the rest in Equities is small. Do little research, buy the index or a cheap active manager.

The difference between the best & the rest in Hedge Funds is important. Buy the best.

The difference between the best and the median in Private equity & Venture is huge . Choose carefully if you dare to do it .** 

** Note :in venture & Private equity there is clear signs of Persistence