I have a confession to make: I used to be 6' 1/2" tall (I liked the 1/2", because it put me ABOVE 6'). My father was 6'6", my older brother roughly the same, and my younger brother is, I think, around 6'2". My two sons are both taller than I am. And so, I can be...
Performance Perspectives Blog
Thoughts on performance measurement from David Spaulding and other members of our team.
![When short is too short](https://tsgperformance.com/wp-content/uploads/2012/11/time-weight.jpg)
When short is too short
![A crowded, but happy office](https://tsgperformance.com/wp-content/uploads/2012/11/deep-in-thought.jpg)
A crowded, but happy office
Hurricane Sandy left many of us without power; fortunately, our office has electricity. And so, we invited our employees to bring their spouses and/or children with them, to have a chance to warm up, relax, and even have a hot shower. Most took advantage of the offer,...
![When performance isn’t so good](https://tsgperformance.com/wp-content/uploads/2012/10/hurricane.jpg)
When performance isn’t so good
A year ago Monday, the Northeast part of the United States was greeted with a horrendous storm, which included a lot of snow and damaging wind. My wife and I that day went to a civil union ceremony, a trip that should have taken about an hour; instead, it took four....
![You can pay me (annualize) now, or you can pay (annualize) me later](https://tsgperformance.com/wp-content/uploads/2012/10/math.jpg)
You can pay me (annualize) now, or you can pay (annualize) me later
One of our clients introduced me to alternative ways to calculate two commonly used risk-adjusted return measures: information ratio and Sharpe ratio. Their immediate derivation is from Zephyr, and I am attempting to identify their origin. I confirmed that...
![Working my way through the Alternative Investments GS](https://tsgperformance.com/wp-content/uploads/2012/10/alt-inv-gs.png)
Working my way through the Alternative Investments GS
I have read through the new GIPS(R) (Global Investment Performance Standards) Alternative Investments Guidance Statement a few times, and frequently make what I think are interesting discoveries. Here's just one:I have highlighted the part I find of interest (I...
![Did you hire a GIPS verifier or a cell phone provider?](https://tsgperformance.com/wp-content/uploads/2012/10/cell-phone-2.jpg)
Did you hire a GIPS verifier or a cell phone provider?
If truth be told (and I am about to tell it), I do not know how common this practice is, but we have become aware of cases where GIPS(R) (Global Investment Performance Standards) verifiers require their clients to sign multi-year contracts. E.g., they will perform the...
![A new GIPS rule being introduced in a non-standard way](https://tsgperformance.com/wp-content/uploads/2012/10/surprise-3.jpg)
A new GIPS rule being introduced in a non-standard way
It came to my attention yesterday that a new GIPS(R) (Global Investment Performance Standards) rule is being introduced into the GIPS Handbook regarding the treatment of significant cash flows (SCF): compliant firms will no longer be able to use the "number of...
![TSG Hires Steve Sobhi to head up our western region sales](https://tsgperformance.com/wp-content/uploads/2012/10/SSS.png)
TSG Hires Steve Sobhi to head up our western region sales
This was just released by TSG:
![One possible reason for the reluctance to hear different views](https://tsgperformance.com/wp-content/uploads/2012/10/old-pumkin.jpg)
One possible reason for the reluctance to hear different views
The weekend WSJ often provides fodder for this blog, though this is the first that I recall it came from Peggy Noonan. Her assessment of Thursday's Vice Presidential debate ("Confusing Strength With Aggression") in this past weekend's edition was quite insightful. But...
![Valuing securities with stale prices for GIPS compliance](https://tsgperformance.com/wp-content/uploads/2012/10/value-2.jpg)
Valuing securities with stale prices for GIPS compliance
I am preparing to meet with a hedge fund client who wants to comply with GIPS(R) (Global Investment Performance Standards). As part of this preparation I am revisiting the recently published Guidance Statement on Alternative Investment Strategies and Structures. This...