About the Authors vii
Study Session 16: Trading, Monitoring, and Rebalancing
Reading 29: Execution of Portfolio Decisions 3
Lesson 1: The Context of Trading: Market Microstructure 3
Lesson 2: The Costs of Trading 10
Lesson 3: Types of Traders and Their Preferred Order Types 15
Lesson 4: Trade Execution Decisions and Tactics and Serving the Client’s Interests 17
Reading 30: Monitoring and Rebalancing 25
Lesson 1: Monitoring for IPS Changes (Individual and Institutional) 25
Lesson 2: Rebalancing the Portfolio 32
Lesson 3: The Perold-Sharpe Analysis of Rebalancing Strategies 35
Study Session 17: Performance Evaluation
Reading 31: Evaluating Portfolio Performance 41
Lesson 1: Performance Measurement 41
Lesson 2: Benchmarks 49
Lesson 3: Performance Attribution (4 Models) 55
Lesson 4: Performance Appraisal 65
Lesson 5: The Practice of Performance Evaluation 71
Study Session 18: Global Investment Performance Standards
Reading 32: Overview of the Global Investment Performance Standards 75
Lesson 1: Background of the GIPS Standards 75
Lesson 2: Fundamentals of Compliance 76
Lesson 3: Input Data 78
Lesson 4: Return Calculation Methodologies 79
Lesson 5: Composite Construction Lesson 85
Lesson 6: Disclosure, Presentation, and Reporting 89
Lesson 7: Real Estate, Private Equity, and Wrap Fee/Separately Managed Accounts 96
Lesson 8: Valuation Principles and Advertising Guidelines 102
Lesson 9: Verification and Other Issues 104
