The Handbook of Investment Performance: a User’s Guide – 2nd Edition


David Spaulding has reworked his original book and expanded it in this second edition of his must have handbook

"I encourage performance practitioners (and investment practitioners) at all levels to read this text. It will confirm your understanding of the basics of performance and also introduce you to quite a few advanced topics. It's likely that you will find something that you didn't understand as well as you might be able to (I know I did)."

- Stephen Campisi, CFA

"Yes to its title, the book touches on all key topics relating to investment performance measurement and attribution analysis. By tackling complex concepts with a writing style that is easy to understand, this will serve as a great reference piece to those both new to the world of performance and those who are well experienced."

-Todd Juillerat, CFA

"David Spaulding's latest book is exactly as you expect - a tremendous resource, written in David's usual easy-to-understand style, an essential requirement for all performance measurement professionals."

-Carl Bacon, CIPM, Chairman, StatPro

"I sincerely believe that this book is a necessary component for the library of any well-informed performance professional and a phenomenal resource with lots of practical application for the management team that is looking to build a world-class performance measurement effort."

-Sandra Hahn-Colbert, CFA

Handbook of Investment Performance (2nd edition) Exercise Solutions

Table of Contents

Foreword to Second Edition                                                             xi

Foreword to First Edition                                                                  xiii

Preface and Acknowledgments, Second Edition                                xvii

Preface and Acknowledgments, First Edition                                     xix

Chapter 1 Performance Measurement - Whats It All About?        1

Chapter 2 Calculating Money-weighted Returns                            11

Chapter 3 Calculating Approximate Time-weighted Returns          31

Chapter 4 Calculating Exact Time-weighted Returns                     47

Chapter 5 Multi-period Performance Measurement                      69

Chapter 6 Time- Versus Money-weighted Returns                       85

Chapter 7 Return on Leverage & Derivatives                               109

Chapter 8 Benchmarks                                                                119

Chapter 9 Performance Attribution                                              135

Chapter 10 The 3Ms of Risk                                                      171

Chapter 11 The Performance Presentation Standards                  201

Chapter 12 Controls, Policies & Procedures                               225

Chapter 13 A First-class Performance System                            241

Chapter 14 The Performance Measurement Profession                247

Bibliography                                                                                  258

Index                                                                                             259


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