Enterprising Investor
Practical analysis for investment professionals

Performance Measurement & Evaluation


Climbing the Ladder in Finance: The PIE Framework for Investment Professionals

Promotions require more than just hard work and results. By mastering the PIE framework, you’ll position yourself for long-term career success.

A Reality Check on Private Markets: Part III

Is IRR misleading investors? Discover the flaws in traditional performance measures and how solutions like NAV-to-NAV IRR can offer a clearer view of private market returns.

From Equities to Real Assets: Key Trends Shaping Multi-Asset Investment

Multi-asset managers need a reliable, data-driven foundation for constructing portfolios that are not only diversified but also aligned with global economic trends.

A Reality Check on Private Markets: Part II

How does the internal rate of return (IRR) work and why do investors need to be careful not to view the metric as an equivalent measure to a rate of return on investments?

The Tyranny of IRR: A Reality Check on Private Market Returns

What makes most investors believe that private capital funds are such clear outperformers? The use of since-inception internal rate of return (IRR) as the industry’s preferred performance metric and the media’s coverage of the sector are to blame.

Escaping the Benchmark Trap: A Guide for Smarter Investing

Is it time to eschew the benchmark trap in favor of Warren Buffett's rule, "Don't lose capital?"

Retaining Top Investment Talent: Lessons Learned by Large Canadian Pension Plans

The secret sauce of Canadian pension plan returns lies in their ability to attract top talent, carefully design compensation frameworks, and adapt to market conditions.

Book Review: Shocks, Crises, and False Alarms

Carlsson-Szlezak and Swartz attempt to add fresh thinking on framing macro shocks that may often prove to be false alarms. Any general reader will obtain some key fresh insights with this work, and CFA charterholders will be offered an alternative to the conventional Wall Street approach to macro discussions.

Commodities for the Long Run?

Asset classes such as commodities have historically had notable diversification benefits for longer-term investors who are concerned with inflation.

Conundrum Cubed: Scope 3 for Financials

Proxy data and estimates are likely to play an important role in plugging disclosure gaps in financial institutions' Scope 3 emissions.



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