Performance as a tool should not be limited to what we are used to using it for, that is creating monthly and quarterly reports, performance remuneration and snapshots as to how our investments are doing. The field of Investment Performance is underutilized more so than any field in the industry. One significant aspect of the investment process that is not formally documented and analyzed is execution. Execution can make a break a great investment thesis. Let’s remember that

CEO Bill: “Frank, we see that the Super Alpha Generator strategy is underperforming. Can you provide some insights and colour to this? PM Frank: “Insight into our underperformance is a great question, Bill. Looking at the market and the movement of our holdings, we have underperformed due to market conditions. Our strategy is solid and over the long will produce what we are looking for.” If market conditions is your firm’s favourite response to your performance, you’re under-

“The definition of genius is taking the complex and making it simple.” -Albert Einstein Over my years in the investment industry, there...