Startups
Time-weighted vs. money-weighted return
For money managers (and for our personal investments), rate of return is the most important number that is expressed in percentage terms. But how do we calculate it? Do we use the simple and…
What’s the expected return on buybacks (a theoretical view)
Realized return of buybacks When we think about returns on buyback programs, we normally look back and estimate the realized return of holding the company’s stock. For example, company X has…
How to think about swaps
Swaps is one of those topics that is perceived to be basic, easy, and intuitive. But not really. We study them briefly in business school and in the CFA curriculum, but that happens in a…
Gadgets
The fractal nature of asset-liability matching
What type of asset-liability matching am I talking about Asset-liability matching means different things to different people, even when you think you’re dealing with a specific situation and…
Share
Time-weighted vs. money-weighted return
For money managers (and for our personal investments), rate of return is the most important number that is expressed in percentage terms. But how do we calculate it? Do we use the simple and…
Share
What’s the expected return on buybacks (a theoretical view)
Realized return of buybacks When we think about returns on buyback programs, we normally look back and estimate the realized return of holding the company’s stock. For example, company X has…
Share
Apps
Time-weighted vs. money-weighted return
For money managers (and for our personal investments), rate of return is the most important number that is expressed in percentage terms. But how do we calculate it? Do we use the simple and…
What’s the expected return on buybacks (a theoretical view)
Realized return of buybacks When we think about returns on buyback programs, we normally look back and estimate the realized return of holding the company’s stock. For example, company X has…
How to think about swaps
Swaps is one of those topics that is perceived to be basic, easy, and intuitive. But not really. We study them briefly in business school and in the CFA curriculum, but that happens in a…
Business
The fractal nature of asset-liability matching
What type of asset-liability matching am I talking about Asset-liability matching means different things to different people, even when you think you’re dealing with a specific situation and…
Share
Time-weighted vs. money-weighted return
For money managers (and for our personal investments), rate of return is the most important number that is expressed in percentage terms. But how do we calculate it? Do we use the simple and…
Share
What’s the expected return on buybacks (a theoretical view)
Realized return of buybacks When we think about returns on buyback programs, we normally look back and estimate the realized return of holding the company’s stock. For example, company X has…
Share