Investment Performance Measurement (Frank J. Fabozzi Series) [Hardcover]

Bruce J. Feibel (Author)

Book Description

ISBN-10: 0471268496 | ISBN-13: 978-0471268499 | Publication Date: February 4, 2003 | Edition: 1

Many investment books include a chapter or two on investment performance measurement or focus on a single aspect, but only one book addresses the breadth of the field. Investment Performance Measurement is a comprehensive guide that covers the subjects of performance and risk calculation, attribution, presentation, and interpretation. This information-packed book covers a wide range of related topics, including calculation of the returns earned by portfolios; measurement of the risks taken to earn these returns; measurement of the risk and return efficiency of the portfolio and other indicators of manager skill; and much more. By reviewing both the concepts of performance measurement and examples of how they are used, readers will gain the insight necessary to understand and evaluate the management of investment funds. Investment Performance Measurement makes extensive use of fully worked examples that supplement formulas and is a perfect companion to professional courses and seminars for analysts.

Bruce J. Feibel, CFA, is Product Manager at Eagle Investment Systems, an investment management software provider located in Newton, Massachusetts. He is responsible for overseeing the development of Eagle's investment performance measurement, attribution, and AIMR/GIPS compliance software. Prior to joining Eagle, Mr. Feibel was a principal at State Street Global Advisors. He earned his BS in accounting from the University of Florida.

Editorial Reviews

From the Back Cover

Investment performance measurement is the quantification of the results achieved by an investment program. Understanding performance measurement is vital for anyone who participates in the investment process. Investment Performance Measurement is a comprehensive and integrated survey of the steps taken to measure performance as well as a reference guide to the calculation and interpretation of the various risk and return statistics commonly encountered by anyone responsible for selecting, monitoring, and evaluating the performance of investment managers.

Written in a clear and accessible style, with each concept developed through fully worked examples, this book is a valuable guide that provides you with critical insights into many areas of this important step in the investment management cycle.

This straightforward and well-rounded resource provides a step-by-step guide to the processes used by practitioners to analyze the performance of an investment portfolio.

Topics include:

• Calculation of the returns earned by portfolios and portfolio managers
• Measurement of the risks taken to earn these returns
• Measurement of the risk and return efficiency of a portfolio
• Attribution of value added over the benchmark to management decisions
• Presentation and interpretation of returns calculated using industry standards

Filled with in-depth spreadsheet examples, Investment Performance Measurement gives you all the information you'll need to understand and implement the techniques used to measure the performance of an investment.

About the Author

BRUCE J. FEIBEL, CFA, is the Product Manager of Performance Measurement Technology at Eagle Investment Systems, an investment management software provider located in Newton, Massachusetts. Prior to joining Eagle, Feibel was a principal at State Street Global Advisors. He earned a BS in accounting from the University of Florida.

Product Details

• Hardcover: 368 pages
• Publisher: Wiley; 1 edition (February 4, 2003)
• Language: English
• ISBN-10: 0471268496
• ISBN-13: 978-0471268499
• Product Dimensions: 9.6 x 6.3 x 1.1 inches
• Shipping Weight: 1.5 pounds (View shipping rates and policies)
• Average Customer Review: 4.9 out of 5 stars  See all reviews (9 customer reviews)
• Amazon Best Sellers Rank: #924,994 in Books (See Top 100 in Books)

More About the Author

BRUCE J. FEIBEL is Managing Director of Investment Manager Products at BNY Mellon. Formerly, Mr. Feibel was Chief Strategy Officer for Eagle Investment Systems, a BNY Mellon company. Prior to this he was a principal at State Street Global Advisors. He is also the author of the book Investment Performance Measurement, also published by Wiley. He earned his B.S. in accounting from the University of Florida. Feibel is a CFA charterholder, a member of the GIPS Risk Standards Working Group, and a past member of the CFA Institute Investment Performance Council.

Customer Reviews

Most Helpful Customer Reviews

6 of 6 people found the following review helpful:

5.0 out of 5 stars Basic to Advanced, March 10, 2006

By 

Patrick Dempsey "PismoPat" (Central Coast of California) - See all my reviews
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This review is from: Investment Performance Measurement (Frank J. Fabozzi Series) (Hardcover)

This book is very well thought out and takes it step by step from basic to advanced.

The really good thing about it is that it shows you how it looks in Excel which means it helps with how it would be entered into a computer.

3 of 3 people found the following review helpful:

5.0 out of 5 stars Best book on investment performance measurement, February 24, 2004

By 

Indexfund Investment Group BV analyst (The Netherlands) - See all my reviews

This review is from: Investment Performance Measurement (Frank J. Fabozzi Series) (Hardcover)

I have read many books on this subject. This book is the best. It's well written, easy to understand, but in much detail.

Some other books only cover some calculation of returns, but this book covers all the subjects that matter to investment performance measurement: Return Measurement, Risk Measurement, Efficiency and Skill Measurement, Performance Attribution and Performance Presentation.

This book is not expensive. Good value for your money.

Anne-Mei-Ling
Indexfund Investment Group BV analyst

3 of 3 people found the following review helpful:

5.0 out of 5 stars Great reference book, May 2, 2007

By 

George (Spring, TX, United States) - See all my reviews
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Amazon Verified Purchase

This review is from: Investment Performance Measurement (Frank J. Fabozzi Series) (Hardcover)

I'm taking the Investments course within the Certified Financial Planner program. This book really helped clarify many of the terms and formulas we had to learn. The Mayo text covers the material, but from a more academic slant. I just wish I had bought the Feibel book well before the class started. It may not be technical enough for graduate students in Finance or people who normally read scholarly papers on investment theory. But for everyone else, like individual investors or people going back to school learning investing fundmentals, it's a great reference.