PNL FOR DUMMIES

$ Inside the "perform situation" you liquidate the portfolio at $t_1$ realising its PnL (allow me to simplify the notation a tiny bit)To generate The 2 procedures equivalent you'll want to visualize investing/borrowing $PnL_1$ at level $r$ so that it stays in the procedure right until $t_2,.$ At that time yourWriting for openDemocracy, Adem Ferizaj