Portfolio Performance Evaluation – Part II (2025 Level III CFA® Program – Reading 25)

Video Description

Master Portfolio Performance Evaluation – Part II (CFA Level III, Reading 25) with Jim. We extend return attribution (BHB/Carhart) into risk attribution, then dive deep into benchmarking (liability-based, asset-based, factor, custom, peer, composites) and the tests of a quality benchmark. You’ll learn tracking risk/error, Sharpe, Treynor, Information & Appraisal ratios, Sortino, upside/downside capture, drawdowns, and how to evaluate manager skill, plus pitfalls like benchmark mis-specification (Roll’s critique) across hedge funds, private equity, real estate, commodities, and derivatives. Prep smarter with AnalystPrep’s CFA® study packages: Level I: https://analystprep.com/shop/cfa-level-1-learn-practice-package/ Level II: https://analystprep.com/shop/learn-practice-package-for-level-ii-of-the-cfa-exam-by-analystprep/ Level III: https://analystprep.com/shop/cfa-level-3-complete-course-by-analystprep/ Levels I, II & III (Lifetime access): https://analystprep.com/shop/cfa-unlimited-package-for-level-1-2-3/ Prep Packages for the FRM® Program: FRM Part I & Part II (Lifetime access): https://analystprep.com/shop/unlimited-package-for-frm-part-i-part-ii/ Topic 9 – Trading, Performance Evaluation, and Manager Selection Reading 25 – Portfolio Performance Evaluation – Part II - LOS : Contrast key characteristics of the following markets in relation to trade implementation: equity, fixed income, options and futures, OTC derivatives, and spot currency. - LOS : Explain how trade costs are measured and determine the cost of a trade. - LOS : Evaluate the execution of a trade. - LOS : Evaluate a firm’s trading procedures, including processes, disclosures, and record keeping with respect to good governance. #CFA #CFAExam #LevelIII #PortfolioPerformance #Benchmarking #RiskAttribution #SharpeRatio #AnalystPrep