DISCUSSION.

The article presents commentary and criticism on the reports "Evaluation of Prospective Investment Performance," by W. Scott Bauman and "Components of a Measurement Model: Rate of Return, Risk, and Timing," by Peter O. Dietz, both included within the issue. The author focuses on Bauman's successful measurement of mutual fund behavior and policy objectives within investment analysis. Particular data interpretations and methodology choices by Bauman are criticized, focusing on the use of less stable statistical variables for measurement. Additional mention is given regarding Dietz's report, complimenting its construction but suggesting it could have displayed further conclusions.