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Is it time for risk certification?
The question above might cause you to respond, "we already have certification programs for risk," and you would, of course, be correct. However, they're for a much broader view of risk than I have in...
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Does the order matter?
In mathematics we are occasionally confronted with the questionable applicability of the commutative law. You'll recall that it basically states that you can move (as in commuting or moving about)...
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PMAR North America 2013 is NEXT WEEK!
I don't recall being as excited in the past for a conference as I am for this year's Performance Measurement, Attribution & Risk Conferences (PMAR), the first being next week in Philadelphia. The...
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Lots to celebrate!
Last night The Spaulding Group held a dinner, at which we celebrated anniversaries, accomplishments, and an announcement.Chris Spaulding, my older son and our firm's EVP (Strategy & Business...
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PMAR Day 1
Yesterday was the first day of the 11th annual Performance Measurement, Attribution & Risk Conference at the Ritz Carlton Hotel in Philadelphia. As expected, we had great speakers who provided a...
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PMAR Day 2
I'm a little late in posting, as PMAR Day 2 was last Friday, but I've been recovering from a busy and exciting event. I think there was little doubt that this year's program was the best, yet! It makes...
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Two things I learned at PMAR XI that I’m not happy about…
I recently shared some details about this year's PMAR XI. I touched on a fraction of our speakers and topics. Today, I want to candidly share with you two things I didn't like.First, we learned that...
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GIPS 2015 ... Not! BUT, what do YOU think?
Last week I mentioned that there will not be a 2015 edition of the Global Investment Performance Standards (GIPS(R)). We're curious what you think about this. And so, please respond to our survey to...
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Using past statistics to predict the future ...
Major League Baseball does this every year, one way or another.That is, each year, based on a batter's great start in pounding out home runs, a pitcher's strikeout prowess, or another player's...
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Performance Holidays
A subject that has come up occasionally, but that has gotten little attention (and none formal), is the idea of "performance holidays."These arise at times when a client makes a significant...
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Learning to take the good with the bad
In the course of some research I came across a working paper by A. Basso and S. Funari (dated September 2001) titled "A generalized performance attribution technique for mutual funds." Please don't let...
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Those who can, do; those who can't, teach
You are probably familiar with the phrase in today's post title. It's clearly a "shot" at teachers and professors, is it not?Its presence was inspired by Steve Campisi's retort to yesterday's post. It...
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Getting quoted
When I was in politics I was quoted almost weekly, about one thing or another. And I quickly learned that despite all that you may share with a reporter, you cannot and never will control what is...
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Transparency
Last week was extremely hectic, with travel and The Spaulding Group's fourth annual PMAR (Performance Measurement, Attribution & Risk) Europe conference in London (which was a HUGE success, by the...
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Hedge funds & GIPS compliance
I have written about this topic in the past: that is, how, in most cases, hedge funds should find compliance with the Global Investment Performance Standards (GIPS(R)) pretty simple. However, as a...
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More on "best practice"
The EMEA chapter of the Performance Measurement Forum held its Spring meeting in Brussels this week, and as usual, it was fun and informative. Because of the frequent use of the term "best practice," I...
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Risk-adjusted attribution
Ernie Ankrim's March-April '92 FAJ "Risk-Adjusted Performance Attribution" article is one that I came across in my doctoral research. So far it's the only one I've found that addresses this topic (I...
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Who's on zero?
In this month's soon-to-be-published Spaulding Group newsletter, I comment a bit about the decision not to have a 2015 edition of the Global Investment Performance Standards (GIPS(R)), and provide the...
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Extending GIPS to asset owners
I wrote an article for Pension & Investments regarding the expansion of the GIPS(R) standards (Global Investment Performance Standards) to plan sponsors. It was recently published and appears in...
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Get ready for a bump in 5-year return numbers
When I was mayor of the Township of North Brunswick (NJ: 2000-2003), I commented how I could envision the huge potential benefits that would accrue in 2010, when the town's debt obligations would drop...
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