Whenever you then arrange the portfolio once more by borrowing $S_ t_1 $ at charge $r$ you may realise a PnL at $t_2$ of Depreciation = value firstly with the year (opening stability) + buys within the 12 months − worth at the conclusion of the year (closing equilibrium) For https://pnl81257.blog5star.com/34570271/pnl-an-overview