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. Currency and Asset Returns. A wealthy U.S. investor-Arturo Diaz-with a USD 20 million portfolio engages an asset manager whose favorite strategy is to invest

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. Currency and Asset Returns. A wealthy U.S. investor-Arturo Diaz-with a USD 20 million portfolio engages an asset manager whose favorite strategy is to invest in no more than 10 stocks. Last year, the manager selected an interesting stock for the p a Brazilian telecommunications firm listed on the NYSE as an ADR. Mr. Diaz notes that the stock did very well and made a 42 percent return. He wonders if this was just due to the strength of the Brazilian real (BRL) and wishes to decompose asset and currency returns. He notes that the beginning and ending values of USDBRL for the year are 2.139 and 1.779, respectively. Perform appropriate calculations to decompose the returns

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