Just line them up against a wall....
Just about when I start coming to terms with The Great Crash Of 2008, I find yet another idiotic aspect of the whole shebang. The good news, however, is that with this one things are finally starting to make some sense - the patterns are beginning to add up. First, a brief picture of the insanity - For those of you who aren't aware of it, Dave Swensen is the Chief Investment Officer at Yale. He pioneered something called The Yale Way, which basically consisted of investing the Yale endowment in Private Equity, Hedge Funds, etc. instead of the boring old standards (AAA bonds, T-Bills, blah, blah, blah). Mind you, he was phenomenally successful, averaging almost 18% through the good years. His biggest impact was in that virtually all the Big Endowment Universities started going down the Yale road, and the next thing you know, they are all massively invested in PE, Hedge Funds, etc., etc. Which is all well and good, untill The Great Crash Of 2008, when the lights went out. Lite