Re-Engineering Karnosky-Singer: Utility, Versatility and Insight for Practical Multi-currency Management
…separately measured effects. In their examples; however, they combined these variously to report on only three. Consequently, most attribution implementations also support only these three effects, denying managers granularity and the ability to combine along different axes, telling a story aligned with their proprietary investment process. Another assumption of KS which does not compare well with investment reality is that…