Wildfire Schulter, a veteran mutual fund investor, argued, I can compute the monthly rate of return on

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Wildfire Schulter, a veteran mutual fund investor, argued, "I can compute the monthly rate of return on a mutual fund by calculating the percentage change in the fund's NAV from the beginning to the end of the month (assuming no distributions to shareholders)." Is Wildfire correct? Why?
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Fundamentals of Investments

ISBN: 978-0132926171

3rd edition

Authors: Gordon J. Alexander, William F. Sharpe, Jeffery V. Bailey

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