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The following table represents yourcash inflows and outflows to the Efficient Minds Capital Emerging Market Growth Fund. As you can see, you panicked at the
The following table represents yourcash inflows and outflows to the Efficient Minds Capital Emerging Market Growth Fund. As you can see, you panicked at the end of the first year by withdrawing 30,000 after seeing a 20% decline in your portfolio (i.e., you sold low). In year 2 you regained your confidence in Efficient Minds Capital by reinvesting 40,000 following the stellar 50% returns. You sat still in year 3 and then pulled out all of your money at the end of year 4 . What is the time-weighted return (i.e., how well did the Efficient Minds Capital fund manager do)? Express your answer in decimal notation on an annualized basis using the geometric average return
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