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Why are monthly active returns averaged? Should they not be multiplied?

Why are monthly active returns averaged? Should they not be multiplied? His returns are log returns and assumes that they are normally distributed, hence they are additive. Assuming log returns are ...
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Why are monthly active returns averaged? Should they not be multiplied?

The only explanation for this can be that log-returns are used. K-period log-return is the sum of previous k-1 period returns. Otherwise, your reasons look logical to me.
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Why are monthly active returns averaged? Should they not be multiplied?

You are correct that with simple returns the time average does not account for compounding effects but this is usually well understood. One reason why this can be preferred to taking geometric ...
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In Mean-Variance Analysis, why not the efficient frontier being pushed to the left near the axis?

You have a good point there. Consider the case of uncorrelated assets, $N$ of them, and for simplicity assume they all have the same variance $\sigma^2$. You take an equally weighted portfolio now, ...
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