In this video, I present my thoughts on who should take the lead when it comes to software design; that is, who should be the primary one to come up with the ideas for reports, screens, functions, etc. Having spent roughly three decades developing and designing...
Performance Perspectives Blog
Thoughts on performance measurement from David Spaulding and other members of our team.
Who should take the lead on coming up with software design ideas?
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Emotion in performance measurement
I'm going to be doing more "VBlogs" (Video Blogs), as I'm finding them an interesting way to share my thoughts and insights. This one deals with emotion in performance measurement, as stated in the title: that is, having some degree of enthusiasm, passion, etc. for...
Deciding on which Performance Measurement Conference for 2019? Why not #1?
Performance Measurement Conference? We're counting down (or is it up?) to 30! My, how time flies (as the saying goes)! We launched the PMAR conferences (Performance Measurement, Attribution & Risk) in 2003. Our conference schedule for 2019 is: PMAR North...
What’s not missing from PMAR XVII (aka, PMAR 2019)
PMAR 2019 Agenda Draws a Singular Question We recently published the agenda for our upcoming PMAR (Performance Measurement, Attribution & Risk) North America conference, and have been asked the same question by several colleagues: "Why isn't there a GIPS® 2020...
ETFs as benchmarks: is the time right?
ETFs as benchmarks: is it time? A topic that continues to gain attention is the massive increases that have occurred with market indexes. We regularly hear stories of firms being required to pay multiples of what they had been for some of the major ones....
Is it time to start something new in 2019? Perhaps a switch to Spaulding Verification Services!
At the end a recent GIPS® 2020 webinar, I included a slide like the one above. It was, in a sense, a “word from your sponsor.” This is the time of year when many firms begin to think about their next year’s verification. Before you get too far down that path,...
GIPS Composite Presentations: If you’re going to cheat, make sure you pick someone who knows what they’re doing
You've probably seen this bumper sticker that reads something like "Don't follow me, I'm lost too." Well, an analogous idea arises in school, when you look at what a neighboring student answered to an exam question, thinking that they surely got it right. But what if...
Is it time to rethink the famed benchmark criteria?
For some time I've grown tired of seeing the seven (now eight) benchmark criteria credited to Bailey, Richards & Tierney (2007. "Evaluating Portfolio Performance"). I first learned of them when I took the then CGIPS now CIPM(r) Principles Exam, roughly 11...
A Rebalancing Act: Rebalancing Quarterly Benchmarks
The following question was recently sent to me: suppose a firm uses a blended benchmark that rebalances quarterly… how should they calculate external dispersion? I guess I hadn't given much thought to the possible challenges with rebalancing quarterly...
Standard deviation: a measure of variability, too!
One thing that is often overlooked is that William F. Sharpe, PhD, in his paper that introduced the now eponymously named "Sharpe ratio," referred to his measure as "reward to variability." He contrasted this with Jack Treynor's earlier published method, which...