AS he has done for decades, once a week David Swensen convenes his staff - including his cadre of apprentices - for a morning-long meet-ing among the Gothic revival flourishes and crenelations of the Yale University campus to debate investment ideas.
Mr Swensen, 62, runs the school's US$25.4 billion endowment, one of the largest in the United States. Usually he is joined by his intellectual sparring partner, Dean Takahashi, his senior director. It amounts to an internship in the world of managing a university's billions - and the young analysts have a front-row seat.
"It was like watching a 70-year-old married couple go at it in full force," recalled Andrew Golden, who was one of those Swensen...
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