Yale's Swensen would sell govt bonds -German paper
FRANKFURT, April 19 (Reuters) - Yale University's Chief Investment Officer David Swensen thinks it is a good time to buy equities and would sell government bonds if he had any, a German newspaper quoted him as saying.
"Now is a better time to buy equities than six months ago, one year ago or five years ago," Swensen told Frankfurter Allgemeine Sonntagszeitung in an interview published on Sunday.
"One thing is certain: If I now had government bonds, I would consider selling them and invest the money in everything else," he said.
In February, U.S. President Barack Obama appointed Swensen to a panel of economists, business leaders, academics and labour leaders who will help shape his response to the economic crisis. [ID:nN06539926]
The U.S. Treasury plans to issue trillions of dollars worth of debt to cope with the recession and the financial markets crisis. [ID:nN04274939] [ID:nLR630670]
Yale University said on Dec. 16 its endowment lost 25 percent since June 30. [ID:nN16285673]
Swensen told Frankfurter Allgemeine Sonntagszeitung that Yale's investment portfolio lost "about a quarter" in the second half of 2008, having delivered an average annual return of 16 percent in the past 10 years. (Reporting by Peter Starck; Editing by Sharon Lindores)
