Yale University is a privileged institution. Many of its graduates go on to great power. George W. Bush was educated there, as were his predecessor Bill Clinton, his father George H.W. Bush, vice-president Dick Cheney and the man he beat in 2004, Senator John Kerry.

An Ivy League institution, it has long been one of the world’s most prestigious universities. But maybe its greatest privilege is to have David Swensen as the manager of its endowment fund.