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Yale made some fresh stock trades in the first quarter



In June 2018, Yale University's investment committee reduced the target allocation for domestic equity capital to 3% from 4%. It noted that the peer average is a 20.4% allocation, but Yale plays a small game.

Yale acknowledges that "the US stock market is very efficient," but chooses to use stock pickers instead of index funds. The strategy seems to work.

Yale s …


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