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Hewitt:
Thanks for the post. I think it's a useful approach.
I was curious though: Mathematically, you can derive the equation ER = (1-PIV)/PIV. IE: for Walmart PIV=48/71=0.676. ER=(1-0.676)/.676=0.479
So what? Well if your portfolio has a PIV of 0.52, it's ER must = (1-0.52)/0.52 = 0.923 or 92.3% not 128%.
Did I miss something here?
All the best,
Zee
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