How is VWAP calculated?

When equity brokers pitch their share repurchase capabilities to corporations, they never fail to mention their ability to outperform VWAP. When asked how they outperform so consistently, the answers tend to be non-answers:

Nuances of the Barclays Fixed Income Indices

Most corporate investors use benchmarks to express their desired asset allocation, to guide their asset managers’ portfolio construction process and, on an ex-post basis, to measure their performance. Well known indices such as

Limits of information for trading and investing

Bad advice to avoid “It is consistently taught in business schools across the world that the more information we absorb, the better investment decisions we will make.” It makes sense, right? But it’