Darrell Huff has a short and very informative book, "How to Lie With Statistics", which was first published in 1954 and amusing illustrated by Irving Geis. This book is still in print and is very popular on Amazon. It describes clearly and humorously, how statistics can be distorted and misused to serve the vested interest of the presenter.
With Easy benchmark index for advertising Superior Performance
Historical investment performance charts comparing aparticular fund's performance against several market index benchmarks. A market index is a market index, is not it? The question should ask the individual investor, is whether the market benchmark index is very appropriate. All the index benchmarks are not the same and it can be very large differences between the market index benchmarks - although indexes appear to be in particular investment style or match the ETF Fund.
If you are a performance chart, doThey investigate whether the fund company a sophisticated index or a simple hurdle that they can be picked up easily stumble? For more information about the differences between the index benchmarks, see Craig L. Israelsen's article, "On Variance Indices: Do not judge an index of his book" in the May / June 2007 issue of Journal of Indexes (pages 26 to 29) Dr. Israelsen analyzes the various indices of the six major U.S. index provider, published (Standard & Poors, Frank Russell, MSCI, Morningstar,Lipper, and Dow Jones). He is a very wide performance variations with market indexes, which supposedly represent the same "style investing" too.
Comment on Dr. Israelsen concluded his article: "It is important to recognize that significant performance differences between the major indexes to cause misleading conclusions about the mutual fund performance. Funds with mediocre performance history can be made to look better by it an excellent benchmark comparisonwith a weaker performance history. At the very least, the industry must for the existence of potentially significant performance differences between the various U.S. stock indices to detect and therefore believes comparisons between Mutual Fund Index A and B for what they are: marketing materials. "
Historical and ETF Investment Fund Performance Charts available figures are historically correct. However, their presentation in advertising, the Internet, andcan use in printed materials to amount varies from different perspectives. Funds and ETF performance charts are designed to gullible individual investors with an implied promise to attract a superior performance in the past to continue. The financial research literature tells us clearly that on average, that's a promise that can not be held. In other words, historical fund performance charts are a disguised lie. You can report factual information, but their aim is to deceive.
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