Archive 2020 – Performance Perspectives Newsletter

November

Not the year we planned for or anticipated; Householding accounts; The Barnette ratio; Upcoming Articles; 2021 training and events calendar

March

What a Hiatus; Net-of-Fee Returns…Challenges Aplenty; In-house Developed Return Methodologies; Mini-PMAR; Puzzle time; 2020 training and events calendar

Archive 2019 – Performance Perspectives Newsletter

October

The Start of 17 Years!; A 2020 GIPS Road Show; Private Equity Evaluations; On Net-of-Fee Returns Puzzle time; 2020 GIPS Standards Workshop; 2019 training and events calendar

September

Don’t Panic!; 2020 GIPS Standards: Clarity on Adoption Requirements; Early adoption of 2020 GIPS Standards: Should You?; Annualization of Returns; Puzzle time; 2019 training and events calendar

July

What Happened?; The 2020 GIPS Standards Have Arrived!; Early Adoption: what Does it Mean?; Puzzle time; 2019 training and events calendar

February

Estimated transaction costs: Why and how to; Puzzle time; 2019 training and events calendar

January

 Happy New Year!; Rethinking benchmark criteria: Why we’ve gotten it wrong and what really matters;  Market indexes, Licensing limits; Puzzle time; 2019 training and events calendar

Archive 2018 – Performance Perspectives Newsletter

December

Benchmark blends: What to know; What’s not missing from PMAR XVII?; GIPS 2020 or 2020 GIPS Standards; 2020 GIPS Verification Exposure Draft; Puzzle Time; Training and events calendar

October

GIPS 2020 Exposure draft…reviewed and commented on; Puzzle Time; Training and events calendar

September

So much going on, so little time; Rebalancing benchmarks – when to; career path in performance; Puzzle Time; Training and events calendar

July

It’s Summer so let’s not say too much…; Looking at standard deviation from a different perspective; From our readers; Puzzle Time; Training and events calendar

June

Why we don’t care about the length of the time period when linking returns; Puzzle Time; deciphering misconceptions about GIPS® compliance; 2018 training and events calendar

May

Should the CIPM Program be Testing a Candidate’s Analytical Skills?; What’s the macro structure of your performance measurement organization; PMAR 25; Puzzle Time; 2018 training and events calendar

April

Enhancing your GIPS P&P; Preparing for your GIPS verifications; Outstanding women in performance and risk measurement; How to pass the CIPM; Puzzle Time; 2018 training and events calendar

March

 A puzzle of a different sort; Women in Performance & Risk Measurement award; Puzzle time; Bacon vs Spaulding now a pay per view event; 2018 training and events calendar

February

 2018: Year of the Asset Owner; GIPS P&P Contest winners;  Women in Performance & Risk Measurement awards; Puzzle time; Book review: The Invasion of Canada; Bacon vs Spaulding; 2018 training and events calendar

January

 Why the Handcuffs?; Growing tired of the fabled benchmark criteria;  Puzzle time; Book review: The Invasion of Canada; Bacon vs Spaulding; 2018 training and events calendar

Archive 2017 – Performance Perspectives Newsletter

December

A bit thin this month; An idea for employee retention; CIPM practice survey announcement; Book Review: How to Read and Why; Puzzle time; 2018 events

November

Recollections of a fun workshop “Down Under”; A better understanding of risk; I like to tweet; Long awaited attribution book; Puzzle time; 2017 events

September

Trying to keep up with GIPS: verifier independence; Puzzle time; Consulting in Sydney; Hurricane relief event; 2017 events; Never stop learning

August

Is midday or intraday cash flow treatment acceptable?; Book review: Ike and Dick; Keeping up with GIPS webinar; Puzzle time; 2017 events

 July

Holding on for dear life; Quotation; Best practices for assessing a pension fund’s performance; GIPS® is pouring it on!; Puzzle time; 2017 events

June

Making sense out of the asset owners’ composite return; More from GIPS; Puzzle time; 2017 events

May

What happened to April?; Non-GIPS Verifications…An option for many!; book review: Prince Charles; GIPS Compliant? What do you show for new strategies?; GIPS 20/20 consultation paper released; Puzzle time; 2017 events

March

Timing is everything; An advisory fee conundrum; Travel tip; Puzzle time; 2017 events

February

Making sense out of the 36-month, ex-post, annualized standard deviation; Book review: The reporter who knew too much; GIPS XXX; Puzzle time; 2017 events

January

Converting a quarterly return into monthlies; New proposed GIPS statement to review; PMAR 2017: The wizards of performance measurement; Puzzle time; 2017 events calendar

Archive 2016 – Performance Perspectives Newsletter

December

The Mystery of Excess Returns; The 75th Meeting of the Performance Measurement Forum; Puzzle Time; Event and Training Calendar

November

More on IRR; Expanded Role for IRR in GIPS; Puzzle Time; Event and Training Calendar

October

First Principles of performance measurement; GIPS Prep; Puzzle time; Event and Training calendar

August / September

A Fundamental rule of contribution (absolute attribution); Book review: “One Righteous Man”; Brief recap: GIPS annual conference; Puzzle time; Training updates

July

Is Information Ratio a risk-Adjusted Return?; On Achievement; Residuals and Geometric attribution; Book review: Towards an imperfect union; CIPM Program survey; Performance Measurement Boot Camp; Puzzle time

June

What happened to March, April & May?; New Guidance Statement; Risk-adjusted performance attribution; Jack Treynor; Inconsistency in rates of return; Puzzle time

January / February

NEW GIPS Guidance Statement; The Dynamics of Investment Performance and Risk Measurement; Performance Measurement…Not Everyone Does Get Right; GIPS Tips; Puzzle time; 2016 events Announced

Archive 2015 – Performance Perspectives Newsletter

November / December 2015

Does it pay to have software certified?; A tip to overcome jetlag; Puzzle time; 2016 events Announced

October

Making sense of compounding; Puzzle time; Reader comments; Tips to keep your advertisements out of trouble from IA Watch

September

Store more, calculate less – Clarifying a few unclear points about the Internal Rate of Return; Congratulations CFA Institute on the 10th Anniversary of the CIPM program; So, What happened at the GIPS annual conference?; Puzzle time; upcoming events

August

Is it time to replace the term “discretionary?”; What do we agree on? As it turns out, not much; Puzzle time; upcoming events

July

Opinion is not knowledge; Automating our verification practice; TSG Reaches a milestone: 25 Years!; Puzzle time; Upcoming events; Letter to clients and friends

May / June

Crossing the Gap…How?; Puzzle time; Upcoming events and articles

April

Structuralism and GIPS; BI-SAM Webinar: Panel Discussion; Rimes Data Governance Conference; Puzzle time; Upcoming events

February / March

A bit more about time-weighting and money-weighting; Book Review; Puzzle time; Clients’ Corner: Laura Soehl; Upcoming Training and Conferences

January

A record setting event of epic proportions; Dispersion…are we calculating it correctly; Puzzle time;

ACQ Award 2014 for top US GIPS Consulting Firm; 2015 events and training calendar

Archive 2014 – Performance Perspectives Newsletter

December
The Cost of Benchmark Data – Things You Need To Know; Buy-Side Survey; Puzzle Time; Behind the Scenes at TSG: Steve Sobhi; Upcoming Trainings and Conferences

November
CIPM Reaches and Surpasses Milestone; TSG Receives Two Wealth and Money Management Awards; Nasdaq Closing Bell Ceremony; GIPS For Asset Owners Webinar; Performance and Risk Measurement Library; Bloomberg Radio Interview; Buy-Side Survey; Puzzle Time; Behind the Scenes at TSG: Susan Kneller; Upcoming Trainings and Conferences

October
Performance measurement books…just when you thought it was safe to stop collecting; Is it arithmetic vs. geometric attribution that we care about?; Puzzle time; Behind the scenes at TSG:Douglas Spaulding; CIPM Survey; Upcoming training and conferences

September
The start of a new year; The confusing ways of off benchmark bets; Extending attribution across time- survey results; Behind the scenes at TSG: Linda Burk; Puzzle time; Upcoming training and conferences

August
Multi-period Attribution confusion reigns;Book Review: The Math Book; No I didn’t invent money-weighted performance;
Clients’ Corner: Bernd Fischer, Ph.D.Puzzle time; Behind the scenes at TSG: Jaime Fowler Puerschner; Upcoming training and conferences.

July
Why rates of returns aren’t being given to prospective investors; In Memoriam; Does order dependence matter?; Puzzle time; Behind the scenes at TSG; Upcoming training and conferences.

June
Money manager runs afoul of the SEC; Hedging an internal rate of return; Puzzle time; Behind the scenes at TSG; Client’s corner: Bob Leaper; Upcoming training and conferences.

May
Annualized Standard Deviation; Puzzle Time; Behind the Scenes at TSG;
From our Readers;Client’s Corner: Mark Elliott; Event and Training Calendar

April

March

February

January

Archive 2013 – Performance Perspectives Newsletter

January 2013

• A New Year: Time For Some Reflection
• Taking A Lesson From Cervantes
• Puzzle Time

February 2013

• Challenges of Nested Attribution

March 2013

• Significant Cashflows
• Effective Dates of Q&As
• Puzzle Time
• The CIPM Designation: Beyond Performance and Risk Measurement

April 2013

• My GIPS Wish List, Part I

• Got News To Share?

• Puzzle Time

May 2013

• More On My GIPS Wish List

• Feedback From A Client

• TSG News

• Puzzle Time

• Late Breaking News

June 2013

• GIPS 2015…NOT!

• Reporting Guidelines

• Puzzle Time

July 2013

• Flopping Convention…Let’s Not Be Shy

• It’s Survey Time Again…

• Puzzle Time

August 2013

• Ten Years of Performance Perspectives Close Out

• Top Trends in Performance Measurement

• Asset Owners or Plan Sponsors

• Survey Time

• Puzzle Time

• Client’s Corner

September 2013

• To Paraphrase Mark Twain, The Reports Of Performance Perspective’s Death Have Been Greatly Exaggerated

• UAPS Is Moving Forward

• Puzzle Time

• Client’s Corner

October 2013

• Error Correction: How To Define Materiality

• Puzzle Time

• Client’s Corner

November 2013

• Mapping And The Art Of Attribution

• Puzzle Time

• From Our Readers

• Client’s Corner

December 2013

• Annualizing For Periods Bracketed By Days, Other Than Month Or Yearends

• Performance Measurement Forum Hosts 60^th Meeting

• GIPS News

• Puzzle Time

• Client’s Corner

Archive 2012 – Performance Perspectives Newsletter

January 2012

• More On Why Negative Sharpe Ratios May Make Sense

• Trust: Is It All That It’s Cracked Up To Be?

February 2012

• Deriving Composite Net-Of-Fee Returns

• From Our Readers

April 2012

• GIPS Portability

• Why Don’t The Net Versus Gross Return Differences Not Equal The Fee?

May 2012

• Is The World Getting Riskier?

• GIPS Help Has Gotten Easier

• GIPS Isn’t The Only Standard In Town…

June 2012

• Why Security Level Attribution?

• Investment Reporting Standards…Necessary, Or Not?

• UAPS Moving Along

July 2012

• Supplementing Your GIPS Presentation

• Documenting Your Risk Measures

August 2012

• Money Weighting Is Catching On!

• Smoothing

September 2012

• 10 Years Already?

• Is The SEC Now Verifying The Verifiers?

• The 3 C’s Of Performance Extended To Five

• Puzzle Time

• Fact of The Month

October 2012

• Ranking The Ways To Present Performance

• What Is Happening To GIPS Protocol And Tradition?

• Puzzle Time

• Fact Of The Month

November 2012

• What’s A Reasonable Amount Of Dispersion?

• Puzzle Time

December 2012

• How About Those Spreadsheets?

Archive 2011 – Performance Perspectives Newsletter

January 2011

• Best Practice…Defined…Or Perhaps, Not

• From Our Readers

February 2011

• 15^th Anniversary Of JPM Is Worthy Of A Celebration

• Common GIPS Mistakes & Misunderstandings

• Animation Nation Has Arrived

March 2011

• Transaction Vs. Holdings Based Attribution

• One Size Doesn’t Fit All When it Comes To Performance Measurement

• Dealing With Changes In Return Methods

• Risk…Why Can’t We All Just Get Along

April 2011

• One Size Doesn’t Fit All

• Handling Fees Paid By Another Account Within The Family

• Surveys That Will Take No More Than Five Minutes Of Your Time, But Provide Great Info!

• The “PMAR Experience”

May 2011

• Holdings Vs. Transaction-Based Attribution: Does It Really Matter?

• Avoiding Presentations

• Let’s Show Equal-Weighted Returns, Too!

June 2011

• Client Reporting Standards…Necessary, Justified, Or What?

• My Thoughts

July 2011

• A Guidance Statement You Need To Care About

• Why We Don’t Like Examinations

• From Our Readers…

August 2011

• Is It Acceptable To Net Same-Day Flows?

September 2011

• An Unaddressed Fundamental Issue

• What To Do?

October 2011

• Five Ways You May Be Wasting Money In Performance Measurement

• A Couple Other Money Wasters

November 2011

• Understanding Why We Do What We Do

• Who’s The Client?

December 2011

• Going Out With A Bang!

• Dealing With Zero Weights

• Who’s The Client

• Clients Or Customers…What Do We Have?

Archive 2010 – Performance Perspectives Newsletter

January 2010

• GIPS 2010 Update

• Risk Monitoring/Management

• Error Correction…One More Time?

February 2010

• GIPS 2010 Update

• If It Looks Like A Duck, Walks Like A Duck, And Quacks Like A Duck…

March 2010

• Performance Is So Easy, Anyone Can Do It

• Early Adoption Of GIPS 2010

• When Daily Is Too Often

April 2010

• The CIPM Program

• Automobile University

• From Our Readers

May 2010

• Money Weighting Is Taking Off…Slowly, But Definitely Heading To New Heights!

• Start-Of-Day, End of Day

• Not So Obvious…

• From Our Readers

June 2010

• Behold, I Have Prepared My Case. I Know That I Am In The Right

• Liquidity Risk

July 2010

• The Best At All Times Is Our Goal

• It’s Time To Abandon The Aggregate Method For Composite Returns

• A New Head Of The CIPM Program

August 2010

• Using The Absolute Value In The Denominator For Modified Dietz

• Negative Values Cause Other Issues For Us

• From Our Readers

September 2010

• Linking Shorts Has Gotten Easier

• Negative Sharpe Ratios

• From Our Readers

October 2010

• The Changing World Of Notation

• Being Comfortable Admitting One’s Ignorance

• From Our Readers

November 2010

• Returns On Employee Stock Purchases

• From Our Readers

December 2010

• Simply Not Getting It…Error Correction Guidance

• Net Of Fee Returns…Frequency Of Applying The Fee

• Hurdle Rates And Why You Shouldn’t Compound Them

• From Our Readers

Archive 2009 – Performance Perspectives Newsletter

January 2009

• Academic Vs. Practitioner Writing

• (And Speaking Of Words) The Word Of The Day

• And Now, Speaking Of The Standards

• Attribution For Plan Sponsors, Fund-Of-Fund Managers

• Blueprints And Road Maps Vs. Mine Fields

• Book Of The Month

• The Rest Of All Bull

• Performance Measurement Conference In A Down Market

February 2009

• The Five Things I Hate Most About GIPS 2010

• Don’t Be So Negative

• What’s Missing?

• A Webinar Is Coming To A Theater (Computer Screen) Near You…

• What Happens When The New Verifier Finds That The Old Verifier Didn’t Do Such A Good Job?

• Further Information Is Available…

March 2009

• Something That Needs To Be Clarified

• Market Recovery

• Books As A Metaphor

• Negative Sharpes

• Verification Fraud

• Verifier’s Corner

• The Loss Of A Performance Measurement Guru

April 2009

• Cumulative Vs. Annualized

• Madoff & The Beardstown Ladies

• After After-Tax Is No More

• Pardon Our Brevity

• Verified, But Are You Really Compliant?

May 2009

• Risk Is Back In Style

• Past Specific Recommendations

• VAR…Are You Convinced That It’s Voodoo Yet?

• Performance Measurement For Pension Funds

• Multi-Currency Attribution

June 2009

• GIPS 2010

• From Our Readers

July 2009

• Single Account Composites

• GIPS 2010…The People Have Spoken

• Confusion Caused By Time-Weighting

• Standard Deviation And Falling Off The Fence

August 2009

• Four Months To Go, And Counting

• To Template Or Not To Template

September 2009

• GIPS Examinations: Are They Really Necessary?

• We Comply Because…

• Questioning Conventional Wisdom

• Judgment And The Standards

• GIPS 2010

October 2009

• Getting A “Grip” On GIPS

• From Our Readers

November 2009

• CIPC Comments On Verifiers Lack Of “Fieldwork”

• Sampling

• Factor Vs. Decision Based Attribution

Archive 2008 – Performance Perspectives Newsletter

January 2008

• UNSUPERVISED ASSETS…THERE’S MORE THAN MEETS THE EYES

• BALANCED PORTFOLIOS…HOW TIMES CHANGE

• ASSUMING IT’S RIGHT

• ATTRIBUTION…ART OR SCIENCE?

• CARVE-OUTS…WILL IT BE A PROBLEM?

February 2008

• SOCIÉTÉ GÉNÉRALE – A WAKE UP CALL?

• MONEY-WEIGHTED ATTRIBUTION

• IRR STANDARDS WORKING GROUP

• REPORTING RETURNS AT THE AGGREGATE LEVEL

March 2008

• THE CONFUSING WORLD OF MODIFIED DIETZ

• OUR NEXT BOOK PROJECT

• LATE BREAKING NEWS

April 2008

• AMSTERDAM EC MEETING

• GETTING THE DATA CLEAN

• UNSUPERVISED ASSETS (and the income that comes from them)

• WHAT DO YOU SHOW IF THERE’S NOTHING TO SHOW

• FROM OUR READERS

May 2008

• THE END OF CARVE-OUTS?

• IS VaR VOODOO?

• THE BLACK SWAN

• SO MANY MODELS…SO MUCH CONFUSION

June 2008

• CARVE-OUTS…I’M SO CONFUSED

• BRINSON FACHLER VS. BRINSON-HOOD-BEEBOWER

• RISK MEASUREMENT CHALLENGES

July 2008

• WHOSE RATIO IS IT?

• ANNUALIZING STANDARD DEVIATIONS

• FROM OUR READERS

August 2008

• TREYNOR RATIO MYSTERY, SOLVED

• WHAT ABOUT NEGATIVE SHARPE RATIOS?

• ANNUALIZING STANDARD DEVIATIONS

• VERIFIER INDEPENDENCE

• A “WHITE PAPER”

September 2008

• WHEN IS A PROSPECT A PROSPECT (FROM A GIPS PERSPECTIVE)

• VERIFIER CORNER

• MORE ON VERIFIER INDEPENDENCE

• THANKS FROM FR. RAY

• TSG NEWS

• FROM OUR READERS

October 2008

• CROSSING INTO UNCHARTERED TERRITORY

• PERSPECTIVES

• GLOBAL FIXED INCOME ATTRIBUTION: IS ONE CURVE ENOUGH?

• VERIFIER’S CORNER

November 2008

• GIPS 2010…SOME IDEAS GOOD, SOME NOT SO

• SHOWING “STANDARD DEVIATION” ON A PRESENTATION… RISK MEASURE OR DISPERSION MEASURE?

• EX ANTE RISK MODELS

• VERIFIER CORNER

• TSG NEWS

Archive 2007 – Performance Perspectives Newsletter

February 2007

• GETTING TO KNOW M-SQUARED A BIT BETTER

• PMAR V…SHAPING UP TO BE QUITE AN EVENT!

• FROM OUR READERS…

March 2007

• QUALITY OF VERIFICATIONS

• VERIFYING THE VERIFIERS

April 2007

• CLOSING A COMPOSITE…HOW TO?

• VERIFICATION – MINIMUM TIME PERIOD

• GEOMETRIC OR ARITHMETIC ATTRIBUTION…YOUR PREFERENCE?

• COMMUNITY SERVICE IN NEW ORLEANS

May 2007

• WHERE ARE THE ADVERTISING POLICE?

• TIME-WEIGHTING OR MONEY-WEIGHTING? THE ANSWER: WHAT’S THE QUESTION?

• SIGNIFICANT CASH FLOWS…AN EASY REQUIREMENT TO OVERLOOK

• SHORT POSITIONS – KEEP THEM SHORT

• FROM OUR READERS

June 2007

• WILL IT NEVER END?

• ARITHMETIC VS. GEOMETRIC ATTRIBUTION…SHEDDING SOME LIGHT ON A COMPLEX TOPIC

• COMMENTS FROM A READER

July 2007

• I OBJECT!

• SPEAKING OF GIPS…

• COMMENTS ON OUR JUNE NEWSLETTER

August 2007

• MINDING THE (MONEY-WEIGHTED) GAPS

• SEC COMPLIANCE LETTER

• READERS RESPOND

October 2007

• A QUANDARY? PERHAPS.

• SEC COMPLIANCE ALERT

• MY COMMENTS ON THE SEC’S STUDY

• RISK MEASUREMENT

• TERRA INCOGNITA

November 2007

• VERIFIER INDEPENDENCE

• TERMINATING COMPOSITES

• COMMENTS FROM READERS

December 2007

• ATTRIBUTION PRICE EFFECT

• INTERACTION BLACK BOX

• SIGNIFICANT VS. LARGE

• THE CHEESE STANDS ALONE

• A READER OFFERS AN ALTERNATIVE APPROACH FOR HANDLING MUTUAL FUNDS

Archive 2006 – Performance Perspectives Newsletter

January 2006

• CGIPS™ CERTIFICATION

• COMPOSITE STANDARD DEVIATION

• COMPOSITE BENCHMARKS

• WHERE’S MY FALL ISSUE?

February 2006

• CGIPS™ SURPRISES

• MIS-CLAIMS OF GIPS® COMPLIANCE

• REVALUING PORTFOLIOS

• COMMENTS FROM A READER

March 2006

• GOOD NEWS & BAD NEWS

• ADVERTISING COMPLIANCE

• WHEN CLOSE IS GOOD ENOUGH

• BOOK RECOMMENDATION

• QUOTING FROM A BOOK ON FRENCH ART

• CHINESE TRANSLATION IS ON ITS WAY!

April 2006

• CGIPS…THE EXAM

• COFFEE AND PERFORMANCE MEASUREMENT

• GIPS…IS IT WORTH THE TIME AND MONEY?

• CELEBRATE!

• COPERNICUS, PTOLEMY, AND PERFORMANCE MEASUREMENT

May 2006

• ANNUALIZING RETURNS

• MONEY-WEIGHTED BENCHMARKS

June 2006

• THE NAME GAME

• AND SPEAKING OF CGIPS…

• ANNUALIZING RETURNS (CONT’D)

• SUBPORTFOLIO RETURNS

• A FEW WORDS ON SHORTS

• SOME PERSONAL REFLECTIONS

July 2006

• DOES MODIFIED DIETZ REALLY WORK ON A DAILY BASIS?

• IT’S ALL GREEK TO ME

• THE NAME GAME

• COMMENTS FROM READERS

• CORRECTION…EXPANSIONS

August 2006

• MORE ON INTERACTION

• COMBINING INTERACTION SHIFTS THE CREDIT (OR BLAME)…A GOOD IDEA?

• IT’S ALL GREEK TO ME

September 2006

• OUR FOURTH YEAR!

• DOLLAR-WEIGHTED RETURNS AND MORNINGSTAR

• HOW TO BE OFFENSIVE, IN ONE SIMPLE LESSON

• WHAT TO INCLUDE…WHAT NOT TO.

• ANNUALIZING RETURNS – STANDARDS OR GUIDANCE TO FOLLOW

• 9/11 TRIBUTE

October 2006

• ATTRIBUTION ON INTERACTION

• “YOU HAD ME AT ‘HELLO’”

• FROM A READER

November 2006

• WHEN ASSET-WEIGHTING WORKS (AND WHEN IT DOESN’T)

• A QUESTION FROM A READER

• A FACELIFT

December 2006

• WHEN ASSET WEIGHTING WORKS (AND WHEN IT DOESN’T) (PART II – MONEY WEIGHTING)

• WHAT IS THE QUESTION?

• ABUSIVE GAP CROSSINGS & ANNUALIZING WHEN THERE IS A GAP

• MORE WORK COMING!

• FROM OUR READERS

• CIPM (FORMERLY KNOWN AS CGIPS) RESULTS

Archive 2005 – Performance Perspectives Newsletter

January 2005

• Attribution Survey

• A Vote for Money-weighting

February 2005

• A new version of the standards has arrived!
• Following up on last month’s example

March 2005

• MANDATORY VERIFICATION – WILL IT EVER END?

• IS DAILY ATTRIBUTION NECESSARY?

• PERFORMANCE SOFTWARE VENDORS IN THE NEWS

• WHAT DOES “TRADE DATE” MEAN?

April 2005

• MIND THE GAP

May 2005

• MONEY-WEIGHTING AT THE SUB-PORTFOLIO LEVEL

• MINDING THE GAP

June 2005

• MORE ON MONEY-WEIGHTING

• I PROMISED

• DAVE’S BOOK CLUB

July 2005

• TIMING OF CASH FLOWS – ON A DAILY BASIS

• THE TIMES, THEY ARE A CHANGIN’

• THE IRR – HANDLING THE ITERATIONS

August 2005

• “BYE, BYE AIMR-PPS®, SAAJ, UK-IPS,…”

• UNDERSTANDING THE STANDARDS’ PLACE IN THE UNIVERSE

• ENGLISH, AN UNCOMMON LANGUAGE

• DAVE’S BOOK CLUB

September 2005

• 100 DAYS AND COUNTING

• CGIPS PREPARATION CLASSES

October 2005

GIPS™ – IT’S COMING TO A THEATER NEAR YOU

December 2005

• VERIFIER INDEPENDENCE

• ANNUALIZATION OF ATTRIBUTION EFFECTS

• BOOK OF THE MONTH

• CLOSING OUT THE YEAR

Archive 2004 – Performance Perspectives Newsletter

January 2004

• Gold GIPS – what you don’t know may hurt you!

• Treatment of Large Cash Flows

• A new publishing venture

February 2004

• Can I get a witness?

• Risk Management and Monitoring

• Hedge funds and performance measurement

March 2004

• IPC Meeting in Brussels

• A new CVG

• Leverage & Derivatives

• Date changes for new standards

• Reporting as well as presenting?

• “Gold” GIPS is here!

April 2004

• Commenting on “Gold” GIPS

• Wrap Fee Accounts

• Selecting a verifier

May 2004

• What happened to AIMR?

• A new attribution effect?

• Certification of Investment Performance Professionals

• It’s official

June 2004

• Clarifying the differences

July 2004

• What’s in a name?

• A single global standard

• New subcommittees

• TSG Selected Again to Train for AIMR (CFAI)!

August 2004

• Ending our first year!

• Geometric Attribution and Interaction

• More commentary on Modified Dietz

September 2004

• The 3 Cs

• IPC Meeting – Washington D.C.

• Allow me a moment to reflect

• 2005 – not to soon to start planning

October 2004

• It’s a sweep!

• 2005 – not to soon to start planning

November 2004

• New Guidance Statements

• Draft Guidance Statement – Verifier Independence

• Draft Guidance Statement – Leverage & Derivatives

• Common areas of confusion – the standards

• Certification Program

December 2004

• New Guidance Statements (continued)

• Draft Guidance Statement – SMA/Wrap Fees

• Draft Guidance Statement – Record Keeping

• Draft Guidance Statement – Error Correction

• Performance Attribution Survey

• Internet Spam

• Performance Attribution Survey

Archive 2003 – Performance Perspectives Newsletter

September 2003

• The Presentation Standards

• Gold GIPS

• Leverage and Derivatives

October 2003

• Software searches

• Technology Survey

• Fixed Income Attribution

• The IPC

• A little about politics

November 2003

• Interaction explained (briefly)

• Mandatory verification

December 2003

• Is stock level attribution all it’s cracked up to be?

• Pardon the interruption

• Some clarity on carve-outs