Have you ever had to explain the difference between TWR and IRR to a client? Would you feel confident that you have covered the proper issues? Have you ever had a circumstance where the reported IRR was positive but the TWR was negative? Well, here is a great post covering many of these issues.
https://blog.commonwealth.com/measuring-portfolio-performance-twr-vs.-irr
https://blog.commonwealth.com/measuring-portfolio-performance-twr-vs.-irr