notices - See details
Notices
AM
Andre Mirabelli (not verified)
29th July 2012 | 2:30am

Michael,
You are correct, I left out a 1 in the denominator of geometric return.
I should have written:
[(Portfolio return) – (Benchmark return)] / (1 + Benchmark return).

But I still do not think your equations are correct.
Even just on dimensional terms, a return cannot equal a return divided by a dollar value.