Liquidity risk

Liquidity risk

In a recent comment (see “Waltzing through the blogospher,” November 28, 2009) Steve Campisi wrote about the need to measure liquidity risk, citing the difficulties that the Yale Endowment fund had. It just so happens that this month’s Institutional...

Calculating returns … the wrong way

We got a call recently from a firm that wants us to review their method to derive returns. They take their beginning market value plus cash flows to determine an average capital base; they then determine their account’s appreciation for the period and calculate...
Waltzing through the blogosphere

Waltzing through the blogosphere

I guess it’s not surprising that as a blogger, I occasionally wonder around looking at other blogs … I regularly visit about a dozen and am always looking for new ones to add to my list. Today I’ve visited several new sites and have picked up a few...

Rates of return … come again?

I stumbled upon a website today that provided the following brief explanation about returns: “To evaluate the performance of a portfolio manager, you measure average portfolio returns. A rate of return (ROR) is a percentage that reflects the appreciation or...

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