And now for an academic lesson in how simulation can be used to improved performance measurement.  It's always interesting to read Dr. Ferguson-for both his theory and his humorous asides.  This article originally appeared in the Fall Issue of 1999.  However, we encountered some production problems and decided to rerun it.  We apologize for any inconvenience or confusion.

The Role of Simulation in Measuring Investment Performance
Robert Ferguson, Ph.D., Axiomatic Systems, Inc.