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Act_May_1991
[longequityreturns] [original_papers] [the_actuary] [Act_May_1991]

The main points covered in this article comprise:

  1. most performance monitoring based upon market values
  2. six objections to using market value for this purpose
  3. market value not for prudent long-term investors
  4. deeper electrical analogy (measuring wrong thing)
  5. DVR more robust (less subjective) than might be thought

download original paper