Instead, Orbis' management fee is based on three-year rolling performance and ranges from 2.5% if the fund beats the index by a wide margin to just 0.5% if the fund similarly underperforms its benchmark over three years.
Using three-year rolling-average performance as a measure, he discovered that, of the funds that beat the average for six consecutive years, only just over half did so again the year after.
Mr Jones also answered questions on child poverty, rolling stock and the performance of the ambulance service in south west Wales.
Lord Bew recommends a three-year "rolling average" of performance be published.
In another study, AllianceBernstein ranked 12-month rolling periods by market performance and found that during the market's worst-performing periods averaging in produced 10.2% more wealth, on average, than investing all at once.
UnitedHealth, the biggest insurer by revenue, is rolling out pay-for-performance contracts for hospitals, as well as testing its own medical homes and ACOs.
Reaction to MacFarlane's performance has been mixed, with Rolling Stone saying he resembled a "bumbling rookie" in his first stab at Oscar host.
Because consumers play such a crucial role in the country's economic strength, economists are watching employment trends and also the performance of retailers, who are rolling out earnings this month.
Otherwise, the 458 Spider remainsas much a rolling masterpiece of automotive art as it is a high-performance car.
The Sunday headliner, Moby, is capable of producing a classic comedown performance, but it is a disappointment that neither the Rolling Stones nor Prince signed up.
On the night of the performance, we see Scorsese's painstaking preparation come up against the monster of spontaneity that is the Rolling Stones live.
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