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...
by admin | Aug 19, 2009 | IRR, money-weighting, risk-adjusted return
Most academic articles that deal with “returns” are actually dealing with risk-adjusted returns. In the course of writing an article on this subject I came across countless such articles. In The Journal of Performance Measurement we’ve tackled both...
by admin | Jul 29, 2009 | IRR, money-weighting
I recently stumbled upon an article that I found quite interesting: “What Does an IRR (or Two) Mean?,” by David Johnstone (Journal of Economic Education, Winter 2008). David is the National Australia Bank Professor of Finance at the University of Sydney...
by admin | Jul 22, 2009 | IRR, money-weighting
Our friend, Stefan Illmer of Credit Suisse, has launched a new group on Linkedin: Friends of MWR & IRR, and John Simpson and I are two of its early members. We are very pleased that Stefan has done this, as it’s another way to provide increased attention to...
by admin | Jul 2, 2009 | IRR, money-weighting
We were recently contacted by a client who had a scenario where the IRR produced multiple solutions. This isn’t rare, but also isn’t that common an occurrence in investing. Multiple solutions can arise when we have a series of in- and outflows. There is no...
by admin | Jun 19, 2009 | GIPS, money-weighting, Standard Deviation, time-weighting
As often happens when I read, I stumble upon quotes which I will want to employ in my speaking and writing. Here are just a few from Michael Lewis’ Moneyball, along with commentary:- The meetings, from their point of view, are all about minimizing risk (p. 27):...
