Read it here.
I find the blue sidebar on the right a little ironic: The Editor's Note warns the reader "If you need investment advice, please consult a registered adviser." Meanwhile, in the body of the article Swensen rails against the retail investment advice-giving industry.
Also note that while Swensen correctly states that asset allocation is the most important factor in determining investment returns for the average investor, it is not the most important factor in Swensen's own stellar record. According to a 2003 Harvard Business study by Josh Lerner, cited in this Fortune article, "manager selection accounted for more than half the superior performance by Yale relative to the average endowment over the last five years."