September 2, 2005

Big Bucks, Closed Books

By JOHN L. PULLEY

David Swensen's financial acumen has made billions for Yale -- but don't ask too much about how he does it

David Swensen has a secret. To visit his office on the fringe of Yale University's campus, a visitor must get past a uniformed guard in the lobby, ascend to the fifth floor in an elevator that can quickly be rendered inoperative in the event of a security breach, and wait for a receptionist to buzz open a heavy glass door.

Here in this fortified cocoon, Mr. Swensen,

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