What??? I hope this LOS is not in current study material. I have no idea what those things are…only possible topics are covered in SS16, marcro performance attribution. Anyway…WHAT???
what’s the actual question?
Sorry!! Got lazy!! Here is the actualy question. The following are some return data for Joyner Asset Managment Average Annual Rate of Return: 24.2% Beta:0.8 Std: 20.2 The following are some return date for the market Average Annual Rate of Return for Risk Free Asset: 5% Average Annual Rate of Return for the Market: 18.9% Std of the market: 13.8 Calcaulate the following investment performance for Joyner asset managment. i. Overall peformance ii. Risk iii. Selectivity iv. Diversification. v. Net selectivitiy. WHAT?? Once again, I hope this question address an out-dated LOS.
I’d flip right to the answer and see if you recognize the equations they use… i don’t know where you got that quesiton from but i don’t reconize what the question is asking either…
Striker, thanks anyway…I think I am getting paranoid. When I saw this quesiton, I didn’t know what they were asking myself. This question was on 2002 CFAI morning session exam, question #3, part B. I looked the answer, I think this maybe a out-dated LOS. I was just wondering if any of you have seen this question. I would “feel” better if some of you are just as clueless like I am. 
I think you can bang out 1 and 2 easily…but 3-5 might be outdated or terms might have changed…
I could not find the q??
even though it’s outdated. we can still answer a few questions related to this year’s los. 1. a decent Jensen’s alpha on the table (9.08%) and high sharpe (0.95), so “selectivity” should be high even though i dont know how it’s defined. 2. a low IR (0.43) and high tracking error (12.34%) might indicate poor “diversafication” relative to the bm.