by admin | Jan 15, 2013 | Investment Performance Guy, News
By now you have heard that the CIPM Program curriculum has been changed – signficantly! So much so that the folks at CFA Institute have taken to calling it “The New CIPM Program!”You may be asking yourself, what *are* the new changes? I...
by admin | Jan 11, 2013 | Investment Performance Guy, News
I am reading, or more correctly, listening to, the classic, Don Quixote, by Miguel de Cervantes. It is a massive work, which rightly deseves the praise it has received. Perhaps not surprisingly, if you’ve been a reader of my commentary for long, I have found...
by admin | Jan 10, 2013 | Investment Performance Guy, News
Frank Sortino, PhD, occasionally tells the following story:There was a pension plan that was looking for a Japanese market investor. They found one who had superior performance. Unfortunately, he also had a high tracking error. When their concerns were presented, the...
by admin | Jan 7, 2013 | Investment Performance Guy, News
This weekend’s WSJ reports that “U.S. stocks ended the first week of 2013 up 3.8%.” Some might want to annualize this figure, to get a sense of what the year will look like. To do so, we can simply raise 1.038 to the 52nd power, and subtract one.And...
by admin | Jan 3, 2013 | Investment Performance Guy, News
Over the past few years there have been at least two lawsuits filed, where an asset manager had committed fraud, either with a Ponzi scheme or some other means, and where the firm had claimed compliance with GIPS(R) (Global Investment Performance Standards). When...
by admin | Jan 2, 2013 | Investment Performance Guy, News
You’re probably familiar with the expression “just because you can do something, doesn’t mean you should.” There have been several times where this saying has come in handy, and this post deals with one more case: standard deviation.In...
