This is what we would expect frankly based on the IRR at 14.57%.

.@ Ben leybovichI appreciate all of your responses, as well as everyone else that has chimed into to this discussion.Although I cannot claim to understand all the intracacies of IRR at this point, I do understand that COC is just one of the metrics used to calculate IRR.

I recommend the book "Predictably Irrational" by Dan Ariely.

But let the market work properly and thin the herd a bit, all the irrational exuberience of the ineffecient investors using other peoples money is killing my investment chances.

Part of me also thinks I'm being preyed upon to some extent because I'm a woman and they think I won't know any better, but maybe that's irrational.

If he's completely irrational and illogical then this likely won't work. 

I didn't care for the irrational excuse, I asked for a copy of their standard contract.

Two obvious problems with the metric: Speculation can drive the Price skyward irrationally, distorting the real meaning.

If this is the case, I still don't see how any large fund can expect to compete in a market space dominated by this type of irrational investor.

With all the talk of bubbles, I was thinking to myself, What causes irrational exuberance in people when it comes to different forms of investing??