by admin | Aug 19, 2009 | Fair value
I just saw a story a Bloomberg regarding Nobel Laureates Myron Scholes and Robert Merton’s call for more accurate valuations on illiquid securities (https://www.bloomberg.com/apps/news?pid=20601109&sid=aiVPT2XgAgto#).The problems with these assets came to a...
by admin | Aug 19, 2009 | IRR, money-weighting, risk-adjusted return
Most academic articles that deal with “returns” are actually dealing with risk-adjusted returns. In the course of writing an article on this subject I came across countless such articles. In The Journal of Performance Measurement we’ve tackled both...
by admin | Aug 17, 2009 | GIPS
The California Public Employees Retirement System (CalPERS) announced that they will comply with the Global Investment Performance Standards (GIPS(R)), or at least as much of them as they can...
by admin | Aug 16, 2009 | attribution
There will no doubt be a lot of controversy surrounding the Philadelphia Eagles’ announcement that they have signed former Atlanta Falcons quarterback and convicted dog fight promoter Michael Vick to a two year contract. I happen to believe that Vick “did...
by admin | Aug 15, 2009 | Investment Performance Guy, News
Happy the man who meditates on wisdom,and reflects on knowledge.Sirach 15: 20.When we learned of the Madoff fraud, we knew that he couldn’t have pulled it off singlehandedly; he had to have coconspirators. And this week we learned of one, who had been with him a...