by admin | May 11, 2012 | benchmarks, market index
Note that the title of this post includes “market index,” not “benchmark.” The reason? Benchmark can mean more than market indexes; for example, it includes absolute benchmarks, such as LIBOR or LIBOR + 1. These ARE appropriate for...
by admin | May 10, 2012 | Investment Performance Guy, News
After several months of design, preparation, planning, review, etc., TSG’s new website has been officially launched!Many thanks to Patrick Fowler and Chris Spaulding for heading up this effort: it looks great!As you might expect, with the new site a number...
by admin | May 9, 2012 | AIMR-PPS, GIPS, Global Investment Performance Standards, gross of fees, net of fees
A colleague recently brought to my attention wording that appears in the 1993 edition of the Performance Presentation Standards, published by AIMR (Association for Investment Management and Research; the former name of the CFA Institute). On page 25, under a section...
by admin | May 8, 2012 | ethics
A journey of a thousand miles must begin with a single step. ConfuciusAt this year’s CFA Institute Annual Conference, John Rogers, CFA, President and CEO, called for all investment professionals to restore trust in the investment industry. He presented the CFA...
by admin | May 7, 2012 | Investment Performance Guy, News
It occurred to me that a choir might be a good metaphor for rating agencies; at least to some extent.Recall that certain rating agencies got blasted because they frequently awarded their highest ratings to pools of subprime mortgages, which on their...
