One of those confusing things in the world of performance measurement: Modified Dietz Modified Dietz is one of the most commonly used return measures. Granted, Peter Dietz probably never referred to it as "Modified" (he called it "Day-Weighted," as opposed to...
Performance Perspectives Blog
Thoughts on performance measurement from David Spaulding and other members of our team.
Modified Dietz as an alternative to the IRR: does it make sense?
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Clarifying the dates: composite creation vs. composite inception date
A video to help explain the difference: composite creation vs. composite inception date With the introduction of the 2020 version of the GIPS(R) Standards, a new requirement is surfacing: for firms to report the composite's inception date. This is defined in the...
Annualization of returns: it’s more challenging than you may think
When it comes to the annualization of returns, most folks think that the rules are pretty straightforward and agreed by all. However, that truly is not the case. And, it is most notable when we're dealing with a "point-to-point" cumulative return such as June 15, 2016...
Who should take the lead on coming up with software design ideas?
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...
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...