Rejoinder to Hsia's "On Rutenberg's Decomposition Method" (Hsia, Wei Shen. 1974. On Rutenberg's decomposition method. Management Sci. 21 (1) 10-12.).

The treasurer of a multi-national corporation can hedge to protect his corporation against an impending currency devaluation or revaluation. He can cover a future period, \tau , now, without covering any intervening periods, by selling the suspect currency forward for \tau periods and buying it...