by admin | Jul 18, 2012 | Investment Performance Guy, News
One area that often results in a lot of confusion (and probably some controversy) is how one should calculate performance attribution of a portfolio that includes derivatives. I have been of the opinion that if the portfolio holds anything that isn’t represented...
by admin | Jul 16, 2012 | Investment Performance Guy, News
In their classic, A Monetary History of the United States, 1967- 1960, Milton Friedman and Anna Jacobson Schwartz observed that FDR’s bank holiday, shortly after he took office in 1933, which was supposed to have been a cure was, in reality, “worse than...
by admin | Jul 14, 2012 | Investment Performance Guy, News
I sometimes jokingly say that since I was once a politician, lying comes naturally to me. And we know how politicians typically rank on the scale of trustworthiness. Lawyers and used car salesmen are also among those who seem to garner little respect in the trust...
by admin | Jul 12, 2012 | benchmarks, GIPS, Global Investment Performance Standards
We have gotten a series of questions lately regarding the inclusion of benchmarks in a GIPS(R) (Global Investment Performance Standards) presentation. I’ll summarize some of it here.Secondary benchmarks: can a firm show additional benchmarks along with...
by admin | Jul 10, 2012 | Investment Performance Guy, News
TSG announced yesterday that we now offer operational reviews. While we’ve actually been performing this service for 20 years, we never told anyone about it…seems odd, right? When a client would come to us and ask, “can you review our operation,...
