Asset management firms have, for the past few decades, generally agreed that "trade date" (t/d) accounting is preferred. This practice has been so common that custodians regularly provide trade date reports (where they used to only do settlement date (s/d)) and...

TSG surveys on the Global Investment Performance Standards have consistently shown that most compliant firms get their verifications done annually. But is this the optimal frequency? Well, let's consider this topic for a moment.How about more often than annual? A...

Having preached the benefits of money-weighted returns for the past several years, along with a group of comrades, including Steve Campisi, CFA, I'm quite pleased to see that the idea is catching on.GASB, the U.S. Government Accounting Standards Board, now requires...

I recently learned of a firm that has enhanced their system to provide the ability to aggregate multiple portfolios for performance reporting. They reference GIPS(R), so clearly the fact that it's permitted within the Standards for composite returns is seen as...

I just learned (via P&I, November 25, page 4) of the passing of Gilbert Beebower.You may recall that he, along with Gary Brinson and L. Randolph Hood, wrote a piece for the Financial Analysts Journal (1986: "Determinants of Portfolio Performance") that helped in...

Just when you thought it was safe to ...I'm doing a bit of research on the Sharpe and Information ratios, and am finding loads of confusion. This may end up becoming an article, but for now I'll share with you some "facts," at least as I understand them, regarding the...

Apparently, this is the first time since 1888 that Thanksgiving and Chanukah overlapped (I wasn't around, but my friends Steve Campisi and Herb Chain recalled the event; both are significantly older than I) , and it won't occur again for 70,000+ years (I doubt that...

So proud, I'm showing off; hope you don't mind.Our third grandchild and first granddaughter.Born to our son, Christopher, and his lovely wife, Monica.Specifics:Born 11/25/2013At 4:18 pm8lbs. 13oz21 inchesRenza in name = Monica's momElizabeth in name = Chris' mom; aka,...

I was in Australia (both Sydney and Melbourne) last week, (1) speaking at a conference, (2) conducting a conference workshop, and (3) teaching our two-day attribution class. It was a very hectic time, and I failed to do any posting, which is a bit unusual for...

It may seem like a stretch, but the very esoteric and complex mathematical area topology and performance attribution have something in common: mapping. Topologists map points from one surface to another, while PMPs (Performance Measurement Professionals) map weights...