In a recent blog post I mentioned that I will comment on grammar when I conduct a GIPS® (Global Investment Performance Standards) verification. Let's take a moment and review some of the mistakes I often find. Technically, these aren't GIPS Common Errors, but if we...
Performance Perspectives Blog
Thoughts on performance measurement from David Spaulding and other members of our team.
GIPS Common Errors #3: Grammar
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GIPS Common Errors #2: Missing the not-so-obvious P&P requirements
Imagine you're making a cake, and that you have the recipe in front of you. You follow the instructions, step-by-step. But, at the end, your cake doesn't taste and/or look right. How come? Well, the baker who came up with the recipe failed to include some of...
Goal based reporting: shouldn’t this be on everyone’s agenda?
Stephen Campisi, CFA, deserves the most credit for championing the concept of "goal based reporting." It's been a common theme in many of his presentations over the past several years, and has garnered much interest. A component of this topic is how returns are...
Webinar this week! Applying GIPS to Asset Owners
In case you didn't know, Beth Kaiser, CFA, CIPM, of the CFA Institute, will host a FREE webinar this week on applying the GIPS to Asset Owners; it's titled "Pension Funds, Sovereign Wealth Funds, Other Asset Owners: How to Apply GIPS Standards." As one who very much...
GIPS Common Errors: #1 – Error Correction Policy
It's "verification time," when our firm's verifiers are busy visiting clients (we only do onsite verifications) and conducting their annual GIPS® (Global Investment Performance Standards) verifications (while we'll do quarterly, we recommend annual, and all of...
Unsupervised assets (or, how to boost performance without much effort)
Many asset managers have "unsupervised assets." These arise when a client tells you "don't sell the 1,000 shares of my IBM stock." [Isn't it funny that IBM is typically used as the example? Well, I might as well continue the tradition.] The reasons they're...
Should GIPS verifiers correct grammar? Spelling? Punctuation?
This is our "busy season" for conducting GIPS® (Global Investment Performance Standards) verifications. And, as part of the process we get to spend time reading a lot of material, including Policies & Procedures and composite presentations. On occasion, we find...
Blizzard 2015: Lessons for all prognosticators? Think ex ante risk measurement
This week, those of us in the Northeast Corridor were promised an "historic" winter storm, with measurements of two, three, or more feet, throughout New Jersey and the New York City area. Well, it didn't quite get that bad, as our amount of snowfall was closer to four...
Keep Growing!
Yesterday's post was based on the fifth of eight "qualities of a winner" outlined in Joel Osteen's You Can, You Will. Those who have such a quality are on the path to success. I also saw how his sixth quality of a winner, "Keep Growing," is one that all of us...
Develop a Commitment to Excellence
I'm reading Joel Osteen's newest book, You Can, You Will. It's short and full of motivational material, which is great to be exposed to from time to time. In the book he identifies "undeniable qualities of winners." The fifth is "commitment to excellence," and...