This Government is determined to turn round failing hospitals, unlike the Opposition, which didn't confront the
sort of under performance and failure we tragically saw at Mid Staffs.
Following conversion to academy status and «after being paired with a strong sponsor, they stand the best chance of breaking from their often long
histories of under performance», said the spokesman.
Then Lipper uses a utility function based on behavioral finance theory to penalize periods
of under performance against the peer group average, with more significant weightings being given to excess negative returns.In determining the universe of funds considered for an award, Lipper includes those registered for sale in the respective country as of the end of the calendar year that have at least 36 months of performance history.
Alternatively, if you prefer the
probability of under performance over the guarantee of a fixed interest rate, a variable life insurance policy with sub-accounts invested in equities and bonds may possibly make more common sense for you.
In a recent podcast episode Meb Faber revealed results of a survey that indicated institutional investors would only «tolerate» 2
years of under performance, as quants we know that simply isn't enough time to assess performance of a factor or a strategy but to the rest of the world... This article highlights the issue that advisors are faced with when being compared with the «market index».
A: The best approach to diversification is to build a portfolio of asset classes that have a long history of good returns (none of them are without long periods
of under performance) but don't go up and down together.
Even if this were not the case, Shleifer and Vishny (1997) show that asset managers are afraid of strategies that deviate from their benchmarks because investors may leave following periods
of under performance.