Hedge fund investor warns against stock bets

Reuters – Prominent hedge fund investor Mark Yusko on Monday warned endowments against putting the bulk of their money into stocks, arguing that these assets perform only when economies are growing.

For years most investors ranging from big institutions to average Americans saving for college and retirement have bet mostly on the U.S. stock market.

But in the wake of the worst financial crisis since the Great Depression, Yusko, who worked with two large college endowments before founding his own firm, Morgan Creek Capital, said investors need to change their thinking.

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