by admin | Jan 20, 2012 | GIPS, Global Investment Performance Standards, trust
I recently listened to Stephen Covey (the son of Stephen Covey of the “7 Habits” fame) speak on trust. It truly resonated with me, and I’ll share just a bit here and more in an upcoming newsletter.Our industry has suffered from a loss of trust. A...
by admin | Jan 19, 2012 | GIPS, Global Investment Performance Standards, risk, Standard Deviation
Confusion abounds when it comes to standard deviation. Some of the issues include:Equal-weighted or asset-weighted?Divide by “n” or “n-1”?Is it a measure of variability, volatility, or dispersion?Is it a measure of risk?What’s the best...
by admin | Jan 17, 2012 | GIPS, Global Investment Performance Standards, M-squared, Modigliani, risk
I have been invited to join the CFA Institute’s Jonathan Boersma and Neuberger Berman’s Leah Modigliani to speak on the subject of risk, at an evening event at the NYSSA (New York Society of Security Analysts). The program takes place at 6...
by admin | Jan 17, 2012 | GIPS, Global Investment Performance Standards
The editorial writers of The Wall Street Journal would make Bill Buckley proud, given the frequency in which they use words that are unfamiliar to many of us, thus providing the opportunity to strengthen our vocabulary. A weekend issue from last October was no...
by admin | Jan 13, 2012 | GIPS, Global Investment Performance Standards, Modified Dietz, money-weighting, time-weighting
Last year John Stossel wrote a piece titled “Almost Everything We’re Taught Is Wrong.” When it comes to performance measurement, there’s some truth to this, too. Sorrowfully, many refuse to be open to the possibility that the way they’ve...
by admin | Jan 10, 2012 | GIPS, Global Investment Performance Standards, verification
TSG is sometimes asked if we do quarterly GIPS(R) (Global Investment Performance Standards) verifications. We would be happy to, but strongly recommend against it. And why is this?Well, we firmly believe that the only one who benefits from quarterly is the verifier;...
