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Portfolio Representations by Jem Tugwell

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CHAPTER 3. Money Market

3.1 Cash

3.1.1 Introduction

This section deals with cash in a portfolio.

There will almost always be some cash in a portfolio. It may come from allocations, contributions, dividends, sales or other income. What should be the simplest asset type to deal with is often the most complex. This is not in the mathematics or theory of how to handle and represent it, but in getting the balances to be accurate across the back office, custodians, etc. In the real world a considerable amount of time and effort will be expended getting accurate and timely cash positions. Without this work, the whole portfolio representation can be compromised. Fortunately, for the scope of this chapter we have the luxury of assuming accurate ...

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