by admin | Sep 21, 2009 | GIPS
The GIPS Annual Conference is this week in Boston. Today, I’m teaching a class on the GIPS(r) standards for the CFA Institute, and then will attend a meeting of the USIPC, the group that represents the U.S. for GIPS. As for teaching these classes, I’ve...
by admin | Sep 17, 2009 | GIPS, time-weighting
Just got a question from a client that I think is worthy of posting. First, is “total return” the “industry standard.” Before answering this, what IS “total return?” Total return simply means that the return includes income. It used...
by admin | Sep 14, 2009 | cash flows, GIPS, time-weighting
I’m reviewing a client’s calculation process and learned that they previously employed a mid-day approach: note that they calculate returns daily but simply assumed that the flows occurred mid-day. I have never liked mid-day for cash flows. Why? As you may...
by admin | Sep 2, 2009 | compliance, GIPS
The comic Dilbert has recently had a few strips that very much relate to our industry: Yesterday’s, for example dealt with establishing industry standards off of Dilbert’s company’s specs (knowing how good his company is, we can only imagine what...
by admin | Aug 28, 2009 | GIPS, verification
Our GIPS(R) verification business has done extremely well this year: it’s become the fastest growing segment of our firm’s offerings. And when we replace a verifier we often find that the firm had previously had, in addition to a firm-wide verification,...
by admin | Aug 21, 2009 | GIPS, IRR, money-weighting
I recently came across the word “contumacious.” Not being familiar with it, I turned to one of my favorite websites (www.Dictionary.com) to learn its meaning:stubbornly perverse or rebellious;willfully and obstinately disobedient.I suspect there are some...
