Question: The expected payoff of a long forward position on a non-dividend-paying stock is positive. Why should this be the case; why is a positive expected

The expected payoff of a long forward position on a non-dividend-paying

The expected payoff of a long forward position on a non-dividend-paying stock is positive. Why should this be the case; why is a positive expected payoff needed? (First, explain how you know that the expected payoff is positive.)

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