So the asset value is all in equity.

What does it imply about the value of that asset?

Which implicitly means that the market value of this asset is 210,000.

And all an asset is, is something that has some future economic value.

let me give you that piece of terminology, it just means net asset value.

But when you actually back out the implicit value of the asset, all of a sudden you realize that you're really overpaying for this asset.

Foldit, a game created by computer scientists, illustrates the value of the approach.

you have to buy this back from me at the NAV (net asset value) per share.

And if they accept it, it'll raise their asset value and we can win the game.

So he owns it outright so all of the 100,000 of asset value is actually his equity.

Now, each of these shares, well the 1,000 is called the NAV, or the net asset value,

So the 1 million asset would really become an 800,000 asset.

So the value of the limit as we approach from the left is the same as the value of the function. Now

Essentially when the market price of my asset dropped, all of that value came out of my equity.

It's the same asset.

So that's the asset.

So it's an asset.

That's an asset, right?

That's its asset it has.

So it's an illiquid asset.

This is a real asset.

Why is cash an asset?

I still have 1 10 of 10 million of total asset value, because now he threw in his 5 million.

Approach me.

One approach and this approach is super slow.

So the bank says, you know what, we're willing to lend you up to 75 of the value of your asset.

The entire asset was his equity.

It's derived from the original asset.

That improves my return on asset.

So I would revalue the asset.

So cash could be an asset.

So that's what an asset is.

He would be a great asset.

The approach worked.

Approach the cow.

5 00 Approach

In this case, the limit as you approach the expression is equal to evaluating the expression of that value.

limit as we approach zero from the left should be equal to the value of the function at zero.

So when you have an asset, if the asset is cash, the rent on it is interest.

And so you create a derivative asset.

I have a 5 return on asset.

He's getting this great return on asset.

I'm getting this crummy return on asset.

So my return on asset is 7 .

I have one asset in the world.