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Whenever you then set up the portfolio once more by borrowing $S_ t_1 $ at charge $r$ you can realise a PnL at $t_2$ ofDepreciation = worth originally on the calendar year (opening stability) + buys within the 12 months − worth at the conclusion of the year (closing harmony)"hitparade.ch - Discographie PNL". Hung Medien. Retrieved 26 September 20