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a. A manager buys three shares of stock today and then sells one of those...

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Finance

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a. A manager buys three shares of stock today and then sells one of those shares each year for the next three years. His actions and price history are summarized below. The stock pays no dividends. Time (years) Price per share Action 0 90 Buy 3 Shares 100 Sell 1 Share 100 Sell 1 Share 100 Sell 1 Share 1 2 3 iii. Explain if you would expect the dollar-weighted average to be higher or lower than the time-weighted geometric average? (You do not have to calculate the dollar-weighted average). [2 marks]

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