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  3. a. a manager buys three shares of stock today and

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

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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 i. Calculate the time-weighted geometric average return for the manager. [3 marks)

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