by admin | Aug 6, 2012 | annualization, CIPM Exam Tips & Tricks, CIPM expert, CIPM formulae, CIPM Principles, geometric linking, GIPS, time-weighted return
Most performance analysts have heard it said that we should never annualize returns of less than one year. Some may also be aware that GIPS provision I.5.A.4 (2010 edition of GIPS) forbids compliant firms from annualizing returns for periods of less than a...
by admin | Apr 8, 2012 | base currency returns, CIPM, CIPM Exam Tips & Tricks, CIPM expert, local currency returns, multicurrency performance measurement, rate of return calculations, return compounding
In a previous blog post, I covered the answers to two CIPM Expert Level sample exam questions, specifically, #5 and #6. One current Expert Level candidate asked me to elaborate on the answer, asking which formula(e) in the curriculum could be used to...
by admin | Mar 5, 2012 | CIPM, CIPM Exam Tips & Tricks, CIPM expert, CIPM Principles, ex-post risk, external dispersion, GIPS, internal dispersion, Standard Deviation
It has actually become apparent to me during the course of conducting GIPS verifications that there is some confusion as to when internal dispersion and external dispersion must be shown. It occurred to me that CIPM candidates may have the same...
by admin | Feb 27, 2012 | CIPM, CIPM Exam Tips & Tricks, CIPM expert, currency hedging, derivatives, forward contracts, futures contracts, performance attributions, performance measurement, rate of return calculations
Today’s webinar (February 27, 2012 at 9:00 a.m. Pacific time) from TSG’s webinar series should be of great interest to Expert Level CIPM candidates, as I will be covering the subject of futures contracts and performance measurement.The webcast is actually...
by admin | Oct 30, 2011 | CFA Institute, CIPM, CIPM Association, CIPM Exam Tips & Tricks, CIPM expert, CIPM Principles, GIPS, performance appraisal, performance attribution, performance measurement, TSG
Most of you have already taken the exam, so now I am hoping for the best outcome for all of you.I came across this picture today, which expresses what I try to do when teaching. Hopefully I explained things in as simple a fashion as possible to those of you who...
by admin | Oct 17, 2011 | CIPM, CIPM Exam Tips & Tricks, CIPM expert, hedge funds, market-neutral strategies, Menchero, performance attribution
An Expert Level candidate sent me a question asking about the formula (shown above) for the asset allocation decision for market-neutral hedge funds, as discussed in the reading, “Performance Attribution with Short Positions” by Jose Menchero, Ph.D.In...
