"How am I doing?" seems like a simple question, but the answer depends on how you measure. Time-weighted return (TWR) shows investment skill irrespective of cash flows. Money-weighted return (MWR/IRR) shows your actual experience including timing of contributions and withdrawals.

Beyond returns, attribution analysis decomposes performance into allocation effect (asset class decisions), selection effect (individual security choices), and timing effect (when you moved). This tells you WHY you performed, not just what the number was.

In this topic, you'll learn to calculate returns correctly, choose appropriate benchmarks, understand what drove your performance, and communicate results clearly.