Articles (7)

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  • Mark Hebner

    Calculations for T-Statistics

    78,159
    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

  • IFA Contributors

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

    53,353
    by Mark Hebner — Updated: Friday, June 26, 2020

    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

    22,692
    by Brad Steiman — Updated: Tuesday, July 9, 2019

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