Hi Dan, Mr. Buynhold made $179k while being 100% invested/at risk while AIM made $149k while far less of the portfolio was at risk.
This brings up the topic of risk adjusted return. Look up ROCAR in the subjects already discussed for you. It's "Return On (average) Capital At Risk." If two methods of investment management have the same total return but one did so with just half as much at risk, it has the higher ROCAR value. It's a way of grading portf management.
You can grade buy/hold and AIM in such a way. It tells us how well the method is working the "at risk" portion of the portfolio.
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