Summary of Unconventional Success

A Fundamental Approach to Personal Investment

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Unconventional Success book summary
A seasoned, institutional portfolio manager explains what investments might work for ordinary investors.

Rating

7 Overall

8 Applicability

6 Innovation

8 Style

Recommendation

Although for many investors, the stock market is the only game in town, author David F. Swensen, the experienced manager of Yale University’s endowment, suggests investing in logical low-cost, fair, nonprofit index funds that track the market closely. He advocates building a carefully balanced portfolio, and strongly recommends regular rebalancing. He comes to these conclusions based on his rigorous analysis of the returns achieved by a host of other investment media, especially mutual funds. In fact, he builds his investment guidebook around a scathing scolding of the mutual-fund industry, even though mutual funds also have strong supporters. getAbstract believes Swensen’s counsel will be useful for individual investors who face a bewildering array of choices. In fact, if you had a rich uncle on Wall Street to advise you, he would probably echo much of Swensen’s logical advice.

In this summary, you will learn

  • Why successful portfolio construction is easily within your reach
  • Why investors should be wary of mutual funds and consider index funds
  • Why you should allocate your assets broadly and then regularly rebalance your portfolio
 

Summary

Investing Fundamentals
Uninformed investors make several common mistakes. The worst one is bypassing the basic principles of steady wealth building, and succumbing to the myth that anyone can “beat the stock market” and make a killing on Wall Street. Then, they try to build personal portfolios...
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About the Author

David F. Swensen is the chief investment officer for Yale University. He was an innovator of new high-tech investments on Wall Street for several years. He is the author of Pioneering Portfolio Management.


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