Neminem id agere ut ex alterius praedetur inscitia [No one should prey on another's ignorance] No, I'm not showing off my knowledge of Latin (although learning it should be added to my "bucket list"). This line comes from the 16th century French philosopher, Michel De...
Performance Perspectives Blog
Thoughts on performance measurement from David Spaulding and other members of our team.
Performance Examinations: one more time, they’re usually a waste of money
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Performance documentation: be careful who you copy off of
The Internet today provides us with many opportunities to find examples of just about anything we may be looking for, including performance documentation. But, just because it's published on the Internet, and just because it comes from a well known firm, doesn't mean...
A skill worth learning: the phonetic alphabet
There are a lot of benefits to spending time in the military, and one that's not often thought of is the requirement to learn the phonetic alphabet. What's the phonetic alphabet? The phonetic alphabet is essentially reciting the alphabet with words rather than...
Cash Flow Treatment, Part III: Mixed Treatment of Cash Flows
Mixed Treatment of Cash Flows Today marks the third day of our three-part installment on handling cash flows. The first part saw us treat cash flows as end-of-day events and the second had flows as start-of-day events. To quickly summarize the challenges with both,...
Cash Flow Treatment, Part II: Start-of-Day Cash Flows
As was mentioned in our previous post, one of the critically important decisions when it comes to calculating rates of return is how to handle cash flows. At a minimum, we need to contend with its timing. This is the second in a three-part series dedicated to this...
Cash Flow Treatment, Part I: End-of-Day Cash Flows
One of the critically important decisions when it comes to calculating rates of return is how to handle cash flows. At a minimum, we need to contend with its timing. This is the first in a three-part series dedicated to this topic. And today, we'll deal with:...
PMAR’s the Place for Performance Professionals
If you didn't attend PMAR North America, you missed out on a great event. However, you still have a few more days to sign up for PMAR Europe. PMAR, the Performance Measurement, Attribution & Risk conferences, are the leading investment performance and risk...
GIPS Annual Registration … a webinar to help you do it correctly
Firms that claim compliance with the Global Investment Performance Standards (GIPS®) are now required to register with the CFA Institute on an annual basis. We've touched on this new requirement in both this blog and our newsletter, and had a webinar conducted by a...
Linking across gaps: how best to do it
I've opined on the subject of linking across gaps in the past. Recently, I've had discussions with a client who wants to be able to link the returns of securities, which were held at various times during a period. I think this is okay, as it would show the client how...
Maintaining GIPS Compliance: with or without a GIPS committee?
Once a firm has achieved compliance with the Global Investment Performance Standards (GIPS®), they are faced with the challenge of maintaining GIPS compliance. What do we mean by that? Well, such things as: Keeping up with the Standards (being aware of changes, the...