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Number of Pages 5
The Fisher Separation This 5 page paper is written in three parts. The first part looks at what the Fisher separation is, what it means for investment decisions and how it separates investor preferences and investment decisions. The theorem is explained. The second part of the paper uses the theorem to justify the use of NPV as an investment assessment method and the last part of the paper considers why it does not work in real world applications. The bibliography cites 3 sources. TEfishersep.rtf
File: TS14_TEfishersep.rtf
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