by admin | Jun 29, 2010 | money-weighting, time-weighting
A few days ago I announced the arrival of the June newsletter, and a couple attentive readers immediately made me aware of a typo. In the “logic” section on page 3 you’ll find “And the inverse holds: when the manager does control the cash...
by admin | Jun 27, 2010 | Investment Performance Guy, News
In today’s Wall Street Journal, Terry Teachout provides a very interesting series of observations on complexity, as it relates to writing and music: “Too Complicated for Words.” He cites a paper by Fred Lerdahl, which speaks directly on complexity...
by admin | Jun 24, 2010 | GIPS, Global Investment Performance Standards
We launched a new group on Linkedin: GIPS Verifiers. This group is for individuals and firms engaged in GIPS(R) (Global Investment Performance Standards) verification: to share ideas, thoughts, issues, interpretations, problems, etc. It will allow verifiers the...
by admin | Jun 24, 2010 | GIPS, Global Investment Performance Standards
An article I wrote for the CFA/CIPM newsletter was recently published on large cash flows. Recall that the Global Investment Performance Standards (GIPS(R)) now require firms to revalue portfolios for large flows. The article shows that this change may not be as...
by admin | Jun 24, 2010 | Investment Performance Guy, News
The title for this post comes from the book of Job (chapter 13, verse 18). It occurred to me that this is quite applicable when we consider the debate on money- vs. time-weighting. I know that some of you are saying “no, not again!!!,” but it’s a...
