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The assumption the proceeds can be reinvested is central to the very concept of internal rate of return and the associated concept of reinvestment risk.

So investment theory is bollocks. Oh, well...

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman

by Migeru (migeru at eurotrib dot com) on Tue Mar 13th, 2012 at 10:28:44 AM EST
[ Parent ]
Well, yeah, the usual interpretation of discount rates is garbage. This surprises you why?

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Mar 13th, 2012 at 10:32:44 AM EST
[ Parent ]

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