Rules are made to be broken … or ignored … at your peril

by David Spaulding | Jan 8, 2015 | Investment Performance Guy, performance measurement

“Of all the things I hold in high regard, rules are not one of them. ” Francis (Frank) Underwood Our son, Chris, gave us a device for our television that allows us to watch Netflix, as well as other Internet based programs. Several folks had recommended...

The year of controls: trust, but verify … or, don’t believe everything that comes out of a computer … or, do your own math!

by David Spaulding | Jan 6, 2015 | Investment Performance Guy, performance measurement

First, Happy New Year! I managed to be away from the office for almost two weeks, which is virtually unheard of, but it’s great to be back. The absence of controls leads to problems While away, my wife and I made it to the movie theater on three occasions, and...

What George Carlin would say about money-weighted rates of return

by David Spaulding | Dec 11, 2014 | Investment Performance Guy, performance measurement

“Those who dance are considered insane by those who cannot hear the music.” Having never been a George Carlin fan, I must confess that I’m a bit surprised to be quoting him, but this line recently appeared on Facebook, and it immediately resonated...

A software vendor’s choice: to lead or to follow

by David Spaulding | Dec 8, 2014 | Investment Performance Guy, performance measurement

I’ve conducted a few Software Certifications lately, and it recently occurred to me that software vendors can generally take two positions, which I simply refer to as: to lead, or to follow. And what do I mean by these terms? Well, let’s take a look. A...

Moderating an important benchmark panel @ NASDAQ event

by David Spaulding | Oct 20, 2014 | Investment Performance Guy, performance measurement

Anyone involved in investing knows how important benchmarks are. I was quite honored to have been asked by NASDAQ to host a benchmark panel at their upcoming Institutional Insights Forum. The session is titled Is it Time to Challenge Your Benchmarks? and will include...

Calculating beta … what to use?

by David Spaulding | Oct 6, 2014 | Investment Performance Guy, performance measurement

During a recent Performance Measurement Think Tank call, I responded to the following question: When calculating the beta of the holdings in a portfolio (not the trailing returns), do you use the 1) trailing returns of the current holdings or 2) the returns of the...