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Carrying c minus d test as function of first avenue net assets, 31 Mar 2017 and 31 Mar 2026

31 Mar 2017 and 31 Mar 2026

EstimateOur model or estimate. Treat it as an order of magnitude.

This figure has been replaced. See Persistence test thresholds both K FA cases, 31 Mar 2026.

The values

  • Status: N_FA and K_FA not found (,,); test stays open, now as a function
  • Sensitivity: each ¥10bn of club net assets raises TPC's own excess by ¥2.2bn

Some detail is too fine to show here; it is kept in the trainer’s notes.

Where it comes from

Our calculation from other figures in the trainer’s notes:

Show the working
  1. 278,251 − 0.32×854,870 = 4,692.6
  2. 25,264 − 0.32×56,652 = 7,135.4
  3. 278,251 − 0.3245×854,870 = 845.7
  4. zero: (0 − 4,693 + 300..500)/0.22 = −19,968..−19,059 → ÷149.57 = −$134..−$127m
  5. persistence: (6,900 − 4,693 + 300)/0.22 =

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