I will start I am thinking of blow torch, shot guns and couple of guys with pliers and getting midieval with it…not the exact quote but if you seen the movie Pulp Fitction, then you should know what I mean. Just need to vent to someone who can understand.
easy points shun, just memorize the rulez, not rocket science
hah - wonder if you’ll be saying that half way into the test when you are given a private equity case that asks you to describe evergreen funds versus close ended funds and their composite requirements.
trick question, mark! evergreen PEs aint subject to “PE” GIPS: they is under the normal GIPS, so there! plus, i dont think there are any PE-specific COMPOSITE rules. are there? at any rate, on the subject at hand, GIPS is by far and away the most loathesome, hateful, godawful, baby killing, disgusting, dirty, filthy, sickening, gross, horrible, awful horrible thing ever of all time! i swear, i’m so glad i never looked ahead at GIPS before i started this program. if i had, i might NOT have started it. my guess is it was written by cracked out lawyers on crack at midnite after a crack-filled binge of crack smoking
nice catch. there are differences. open ended funds need to be separated in different composites than close ended, which are separated by style and vintage.
What are talking about? GIPS will bring about world peace, level the playing field for all human race, kill apartheid…i.e per the GIPS verifiers who will make a killing by walking around your offices, harassing your performance systems guys and the charging millions for allowing you to state “Darned Inc. Firm has been independently verified for periods …[1 measly year]” zoya-- there are PE composite specific rules e.g. 0) Valuation is required annually 1) Report SI-IRR (NOT TWRR) 2) Report Vintage year, how it is determined and final liquidation date 3) Must show cumulative committed capital, paid-in-capital (PIC), TVPI, DPI, RVPI
Corporate Governance reading is much worse to me. Shall we also swear at it in this thread?
i’ll take GIPS > attribution.
GIPS is by far the worst! Shameless way of promoting standards that provide a profit for CFA. Hate memorizing useless rules.
I, for one, welcome our new GIPS overlords
All your GIPS are belong to us
is it me or the CFAI seems like an awesomely pimping place to work…
well they are certainly hiring, looks like check linkedin jobs beware tho: those who can… etc etc
GIPS is boring, though not as much as Global performance evaluation or calculation of Implementation shortfall!
i swear Nadine Caraccio knows everyone