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Mark Hulbert: How to have an investment portfolio that can beat Harvard’s

Beating the market takes more than just being brilliant. Just ask Harvard University, which has the largest endowment (close to $40 billion) of any university in the world.

For the 10 years through the end of its most recent fiscal year, Harvard’s endowment grew at an annualized rate of just 4.4% — despite employing some of the best and brightest the investment advisory industry has to offer. A 60% stock-index fund/40% bond-index portfolio would have produced a 6.4% annualized return over the same period, according to Bloomberg, and the S&P SPX, -0.10% with dividends reinvested) produced a 7.2% annualized return over the decade.

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