PNL CAN BE FUN FOR ANYONE

$ Now you say $V_t$ will be the risky asset. Quite bewildering. Edit the submit to generate this crystal crystal clear. We could think about precisely what is a PnL at the time we know very well what We've invested in. $endgroup$To produce The 2 approaches similar you must imagine investing/borrowing $PnL_1$ at level $r$ to ensure that it stays ins