The LIE (Not Law) of Averages in Fund Performance

I was recently talking with one of my students and he mentioned to me that he didn’t know how to measure his Fund’s Performance. Return on Investment? Average Annualized Return? Compounding Annual Growth Rate? Which one is best? Or none at all? I said, “Let’s start by figuring out how misleading some of these numbers … More The LIE (Not Law) of Averages in Fund Performance