what does it mean?作者: Roflnadal 时间: 2011-7-11 19:16
you have to add inflation to your exp return so that you can maintan the purchasing power. it is just another term.作者: Valores 时间: 2011-7-11 19:16
so another way of saying, maintaining real value of your assets?作者: infinitybenzo 时间: 2011-7-11 19:16
Essentially, if you do not preserve the real value of your assets, you are favoring the current generation over the future generation.作者: strikethree 时间: 2011-7-11 19:16
If I remember the real key takeaway was actually not GROWING the portfolio in REAL terms, just providing inflation protection. EG inflation is matched by return, nothing more.
If you provide real growth above and beyond inflation and any fund mgmt expenses, each subsequent generation gets a benefit above and beyond the prior generation.作者: Iginla2011 时间: 2011-7-11 19:16
intergenerational neutrality
AF, picking the most obscure word in the CFA book and asking the definition of it作者: PalacioHill 时间: 2011-7-11 19:16
