Unforseen

pimpineasy Wrote:
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> hmmmmm refer to cfai vol4 page 259 to see what i
> mean

Managers "true" active return = Manager's return - Manger's normal benchmark. 10 - 9 = 1
Manager's misfit active return = Manager's normal benchmark - Investors benchmark. = 9 - 12 = -3.

Total active return = 1 - 3 or -2.

I don't get it, isn't that what I had?