Articles (7)

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  • IFA Contributors

    Where are the Customers' Yachts? A Good Hard Look at Wall Street

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    by Mark Hebner — Updated: Monday, June 27, 2022

    Once in the dear dead days beyond recall, an out-of-town visitor was being shown the wonders of the New York financial district. When the party arrived at the Battery, one of his guides indicated some handsome ships riding at anchor. He said, “Look, those are the ...Read More

  • Brad Steiman

    Paradox of Skill

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    by Brad Steiman — Updated: Monday, April 25, 2022

    Manager selection is a process that requires analyzing noisy performance data, so it should lean heavily on the notion of statistical ...Read More

  • Mark Hebner

    Calculations for T-Statistics

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    by Mark Hebner — Updated: Monday, June 28, 2021

    In calculating the t-stat, the first step is to determine the excess returns a manager earned above an appropriate ...Read More