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 Who is Behind CompoundingHappens.com?
The founder and principal of CompoundingHappens.com is Damien Laker CIPM.
Damien prepared for his career with a Bachelor of Science in Computer
Science, and a Bachelor of Arts in the History & Philosophy of Science, at
University of New South Wales. He spent several years developing software
for large firms. During this time, he also earned the Graduate Diploma
from the Securities Institute of Australia. In 2007, he earned the right
to use the Certificate in Investment Performance Measurement (CIPM) designation.
Around 1992, Damien started his own company. The company developed a
software solution for performance measurement and attribution. Several
large customers licensed the software, and in 2002, Barra Inc acquired the
software. Damien became Director of Performance Attribution at Barra, a
position that he held until he left the company twelve months later. Since
then, Damien has been writing papers and giving conference presentations about
performance measurement and attribution.
In the years culminating with his time at Barra, Damien developed a software package for investment performance measurement &
attribution which is now used by several of the "top 20" investment managers in
the world. He was responsible for ensuring successful implementation of
this product wherever it was used -- whether London, New York, Tokyo, USA West
Coast, or in Australia.
As such, he has first-hand experience of solving difficult commercial problems
for investment managers across a wide range of business environments, countries,
and types of client.
Damien is a
senior moderator on the web site
www.investment-performance.com.
Damien has
spoken frequently at conferences in London, New York, Tokyo, Hong Kong, Singapore, Berkeley
(California), San Diego, Florida (USA), Kuala Lumpur, and Sydney.
Publications: Books
"Arithmetic Performance Attribution" (Chapter 2) in Bacon, Carl (ed.),
Advanced Portfolio Attribution Analysis: New Approaches to Return and Risk,
London: Risk Books, 2007, pp. 19-56.
This is the only book specifically focused on
performance attribution, a technique used to quantify the excess
return of a portfolio against its benchmark and to explain
performance in terms of active investment management decisions.
It presents the various models that analysts use to breakdown
and quantify how a portfolio is performing which will help you
to understand why your portfolio behaves the way it does.
Aimed at advanced practitioners, this book will provide you
with a clearer understanding of your investments and will,
crucially, help you identify if and where you are getting value
from your portfolio.
Recommended for performance, risk and attribution analysts,
risk managers, heads of compliance, portfolio managers, fund
managers, investment consultants, pension fund trustees and
consultants, investment directors and quantitative analysts.
Use the link at the right to shop for this book on
Amazon.com.
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Publications: Journal Articles
Laker, Damien, “What is this Thing Called Interaction?”, Journal of
Performance Measurement, Fall 2000, pp. 43-57.
Laker, Damien “Implementing Daily Stock-Level Attribution: A Case Study”,
Journal of Performance Measurement, Winter 2000/2001, pp. 37-44.
Laker, Damien, “Incorporating Transaction Cost Measurement into Performance
Attribution”, Journal of Performance Measurement, Summer 2001, pp.
13-24.
Davies, Owen and Laker, Damien, “Multiple-Period Performance Attribution Using
the Brinson Model”, Journal of Performance Measurement, Fall 2001 pp.
12-22.
Laker, Damien “Performance Measurement for Short Positions” (Letter) Journal
of Performance Measurement, Spring 2002.
Laker, Damien, “A View From Down Under”, Journal of Performance Measurement,
Summer 2002, pp. 5-13. The title of this document as submitted to the journal
was “Multiperiod Attribution Calculations: Reflections on the Spring 2002
Issue”.
Laker, Damien “Benchmark Rebalancing Calculations”, Journal of Performance
Measurement, Spring 2003, pp. 8-18.
Laker, Damien, “Perspectives on Transaction-based Attribution”, Journal of
Performance Measurement, Fall 2004.
Laker, Damien, “Toward Consensus On Multiperiod Attribution”, Journal of
Performance Measurement, Spring 2005.
Laker, Damien, "Performance Attribution with Zero-Weighted Sectors",
Journal of Performance Measurement, Summer 2006, pp. 33-46.
Services
The following list indicates some of the services that Damien could provide
to your firm:
- Training: Master Class on Performance Attribution
- Damien offers a full-day master class on "Essential Concepts and Skills
for Arithmetic Performance Attribution". This master class is (we believe)
the best one-day training session for investment professionals who wish to
learn the essential skills of performance attribution. The master
class can also be used
as the first step toward more customized training, or as part of a
consulting engagement.
We are contemplating master classes in London, New York, San Francisco,
Sydney, and possibly other locations. If you are interested in attending a
master class, please
send
us an email, with details of the city where you would prefer to
attend.
If your company has a group of six or more people who wish to receive
performance attribution training, we can arrange customized instruction at
your location.
- Investment Performance Measurement
Consulting
- Damien can provide a wide range of consulting services and advice
in regard to investment performance measurement, compliance with standards,
etc.
- Investment Performance Attribution
Consulting
- On a consulting engagement, Damien can have
regard to the state-of-the art techniques he has described in his papers, as well as techniques published
by others. Performance attribution is such a complicated and
rapidly-evolving field. It will really benefit you to have one of the
world's foremost experts working on your business problems. A good
attribution system will provide valuable information for your business.
A mediocre attribution system is often a waste of time and money.
Damien has the experience and skills to help ensure that your time and money
are allocated wisely.
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- Strategic Assistance with Selecting Service
Providers and Software Vendors
- Having been a software vendor, Damien is extremely familiar with the
details of typical negotiations between investment management firms (who
want to buy software or services), and software vendors (who want to sell
software or services). You can engage Damien to be your advocate
during the process of selecting a software vendor. With his experience
from successfully negotiating many times before in this kind of situation,
Damien can help you to obtain the outcome that is best for your firm.
Contact
To get directly in touch with
Damien Laker, email
damien.laker@CompoundingHappens.com.
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