Stefan Illmer, PhD returned to PMAR once again, this time to do "double duty," as he spoke about holdings-based risk attribution as well as updated us on the new CFA Institute client reporting
Just a brief word for now: the document speaks of transparency, which is a good thing (I think, for example, we're quite transparent regarding our thoughts and opinions, as well as the sharing of information).
Is it not therefore a bit ironic that
the committee's makeup is a secret?
Review their first report: nowhere are the names mentioned? Contrast this with the GIPS(R) (Global Investment Performance Standards) standards, where the Executive Committee members are always listed. Look on the website: can you find the list of names? We've asked for them, but for some reason they won't be published or made available. We're assured that the members are all highly qualified, which I have no doubt they are; but who are they? Where's the transparency into this group's makeup, plans, etc.?
How can you promote transparency without being transparent?
Seems kind of strange, doesn't it?