20 years and counting

20 years and counting

Earlier this week my TSG colleagues and I went to lunch to celebrate our 20th anniversary in business. And, they presented me with a beautiful pen to commemorate this event.Because we have a decimal (i.e., base 10) system of counting, we focus on years ending with...

MWRR @ subportfolio level

A brokerage client just mentioned that one of their reps wants money-weighted returns at the subportfolio level. And I was asked to contrast the advantages and disadvantages of time- versus money-weighting. Well, in one respect he came to the wrong guy, because there...

A client reporting “no no”

It appears at times that reports are designed to convey how smart the sender is. And while this is perhaps not normally the intent, it can nevertheless be the message. Sending a client, for example, the results of a complicated fixed income attribution model, when we...

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