Harvard Endowment Needs to Lower Fees, Not Pay: Kaissar

The video discusses the challenges faced by endowments like Harvard's, which struggle to meet their target returns due to high fees and underperforming investments. It explores strategies to reduce costs, such as negotiating lower fees with hedge funds and private equity. The video also examines the inertia in endowment management and the potential shift towards lower-cost models like Vanguard's. Finally, it addresses skepticism about non-transparent active ETFs, questioning their value in improving returns.

What are the main challenges faced by endowments like Harvard in achieving their required returns?

How have the performance trends of endowments changed over the last decade?

What strategies can endowments employ to reduce investment fees?

Discuss the impact of high fees on the overall returns of endowment funds.

What role does inertia play in the decision-making processes of endowment funds?

Why might endowments be hesitant to adopt lower-cost investment models?

In what ways could the Vanguard model influence the future strategies of endowment funds?