fyi, in the CFAI text, p41, Reading 43 I see R-investment mgr = sum sum wi x wij x (R a,i,j - R b,i,j) however, in the schweser formula sheet and book5 says sum sum wi x wij x (R i,j - R b,i ) I think the R b,i is wrong in the schweser book, right?
that’s macro, and yes, your first formula is correct, at least that is the one I am going with