by David Spaulding | Sep 24, 2014 | Investment Performance Guy
Don’t focus on arithmetic vs. geometric attribution Of late there have been several comments regarding arithmetic and geometric attribution; but that’s not what’s important. What matters is The difference between arithmetic and geometric excess...
by David Spaulding | Sep 11, 2014 | Investment Performance Guy, performance measurement
I recently conducted a software certification of a software vendor’s composite system, where they use the term “Discretionary” as a characteristic of accounts. They correctly point out to their clients that this term is meant from the...
by David Spaulding | Sep 9, 2014 | Investment Performance Guy, performance measurement
One of the frequently debated topics in performance measurement is the value of the interaction effect. In last week’s post, Carl Bacon, CIPM suggested that I had made a “solid case for the stupidity of interaction.” His disdain for this...
by David Spaulding | Sep 3, 2014 | benchmarks, Investment Performance Guy
I think this might be a record for blog post titles, but I came up with the second part, first, which is at the heart of the matter, and then the first came to me later, which adds some color to it. Dealing With Off Benchmark Bets What IS an “off...
by David Spaulding | Aug 25, 2014 | cash flows, Investment Performance Guy, performance measurement
While I have no empirical evidence to quickly draw upon, it’s my belief that most firms either treat cash flows as “start-of-day” or “end-of-day” events. Such a convention is thought of as reasonable and even perhaps “best...
