Timely and accurate evaluation of investment performance for traditional and hedge fund managers
Portfolio Opportunity Distributions (PODs) comprise all of the realistic portfolios that can be constructed from the constituents of a specific index, actualizing comparative universes with three important benefits:
POD universes are timely, available days after quarter end.
They are accurate because PODs tie performance rankings back to the benchmark. The benchmark ranks median, so rankings measure the "statistical distance" of a return away from the index.
Inferences of success or failure drawn from these bias free universes are reliable regardless of the length of time period because significance is determined in the cross-section rather than across time.
Currently there are 38 Indexes provided for the U.S.: 12 Value, 12 Growth, 4 Core (the "stuff" between Value and Growth), and 10 Total. For Foreign, there are 32 Indexes: 14 Style, 9 Sector, and 9 Country
Aye POD! (iPOD)
Popular Index PODs (PIPODs): for free software and universes!
PODs for hedge funds and traditional long-only (HedgePODs). for free software.
Warning! Peer Groups Are Hazardous To Our Wealth!
Despite popular belief, peer groups do not reveal who has succeeded or failed.