Reading 60: Forward Question: Gain on Asset investor, following, receives

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Reading 60: Forward Market Contracts
Page 50
Problem 4D
There are two components to this problem: the value of the forward at expiration and the asset. Is the following understanding correct.
The Value:
The investor is long. Since the price of the forward is greater than the asset they investor receives they incur a loss.
The Asset:
Since the price of the asset is lower than it was at origination, the investor gains because they lack exposure to the asset during that time.