Thanks Conrad.
You make some valid points as well.
The Reserve is simply a part the Investor's excess liquid assets that are set apart for AIM investing.
1 Time Averaged Return on Invested Cash = ROTAC. . .
2 Time Averaged Return on Investment = ROTAI. . .
I was just trying to illustrate how LD-AIM improves ROCAR relative to Classic AIM and B&H.
LD-AIM minimizes risk on invested $ by not buying the initial core position as in Classic AIM; and certainly less $ than B&H. So using your terms, its ROTAI would exceed both Classic AIM and B&H.
But as Clive alluded to, return on Cash (ROTAC) is also important in assessing overall results.
So I try and keep things simple by just reporting total return.
Afterall, maximizing that (however it is achieved) is really the bottom line goal in my view.
Best Regards, Steve (The Grabber)