Last week I discovered an error in a diagram in the Fixed Income Attribution reading at the Expert Level of the CIPM curriculum. I have made CFA Institute aware of the error and suspect they will issue a correction soon, but I want to make candidates aware of this in...
CIPM Exam Tips & Tricks
Lorem ipsum dolor sit amet.
Error in Curriculum Materials – Fixed Income Attribution
read more
GIPS Interpretations: Can I Show IRR for my Fixed-Life, Fixed-Commitment (but non-private-equity) Fund ?
Occasionally when I am doing GIPS verifications, I come across situations where a firm has a fixed-life, fixed-commitment investment vehicle that they want to present performance for in compliance with the GIPS standards. Because the firm controls the external cash...
Free CIPM Learning Opportunity – What’s New with the GIPS Standards!
What’s new with the GIPS standards? CIPM Candidates should tune in to a webinar we’re hosting on February 5 @ 11:00 AM EST: What’s New With the GIPS Standards? While this webinar will not focus the CIPM Program, GIPS is, of course a significant part of the curriculum,...
GIPS Interpretations: After-Tax Performance – Must It Be Labeled as Supplemental Information?
Question: do after-tax returns have to be labeled as supplemental information in GIPS compliant composite presentations? Answer: No. Explanation: Supplemental information is performance information that is not covered by the requirements and recommendations of the...
Understanding Differential Return, Part 2: vs. Jensen’s Alpha
In a previous post I introduced two forms of the differential return equation that are included in the CIPM curriculum at the Principles Level: differential return using standard deviation differential return using beta If it seems that the differential return formula...
Understanding Differential Return, Part 1: vs. Subtraction Alpha
Differential return is a risk-adjusted performance measure that many CIPM candidates have not see before, and as a result, I get a lot of questions asking what exactly is the differential return... what does it mean and how should it be interpreted. Thus, I have...
CIPM Training – In Person and Online!
It's that time of year again... the Autumn window for the CIPM Program is well underway, and examinations will be coming up soon in October! Just a reminder - I will be teaching our CIPM Principles Level and Expert Level Preparatory classes in Chicago this month! The...
True Stories on Whistle Blowing…
Candidates at the Principles Level and at the Expert Level in the CIPM program should be aware that the Code of Ethics and Standards of Professional Conduct require "covered persons" to remember their "Duties to Employers" - but also it should be remembered that...
A Good Article on Jack Bogle, a Key Figure in Index Manager History…
Manager selection is an important component in the CIPM Curriculum... in that vein, I suggest candidates read through a writeup/review of Jack Bogle (and really, a new book on him) from the ThinkAdvisor website. The curriculum doesn't make reference to Bogle,...
On Ethics…
This quick video succinctly touches on our role as professionals... https://youtu.be/dYTNq3vRnMQ