[TrumpCard]

Per Forbes, the Stanford endowment's 10-year average annualized return is 9.4%, which is a bit above the average for endowments of 1 billion-plus, according to the chart linked above.  https://www.forbes.com/sites/michaeltnie...ses-again/

I don't see Stanford's 20-year average annualized return from a quick google search, but it appears that the Yale endowment's is a bit better than the S&P500.  I think I've read that Yale gets notoriously good returns though.  In any event, Stanford has been doing just fine over the long run in absolute terms and in relative terms compared to most of the competition.  I'm not saying it's time to get complacent.  I'm just saying that the top line results -- absent some information that the investment managers are operating inefficiently/imprudently -- are not a basis to be particularly critical.

[TrumpCard]

Per Forbes, the Stanford endowment's 10-year average annualized return is 9.4%, which is a bit above the average for endowments of 1 billion-plus, according to the chart linked above.  https://www.forbes.com/sites/michaeltnie...ses-again/

I don't see Stanford's 20-year average annualized return from a quick google search, but it appears that the Yale endowment's is a bit better than the S&P500.  I think I've read that Yale gets notoriously good returns though.  In any event, Stanford has been doing just fine over the long run in absolute terms and in relative terms compared to most of the competition.  I'm not saying it's time to get complacent.  I'm just saying that the top line results -- absent some information that the investment managers are operating inefficiently/imprudently -- are not a basis to be particularly critical.