I was careless.

Here is a better example of what I am trying to.  With the '<<-' you
offered.

?<<-

That was exactly what I needed, thankyou.

cheers
Worik



N <- 10
## x simulate a return series
x <- runif(N)-.5

## Build an array of cumulative returns of a portfolio starting with $1 as
it changes over time
y <- rep(0, length(x))
y[1] <- 1+1*x[1]
for(i in 2:N){
  y[i] <- y[i-1]+y[i-1]*x[i]
}

## y is that return series.  Use
test.1 <- function(r.in){
  v <- rep(0, length(r.in))
  foo <- function(i, r){
    if(i == 1){
      s <- 1
    }else{
      s <<- v[i-1]
    }
    v[i] <<- s + s*r[i]
    return(v[i])
  }
  return(sapply(1:length(r.in), foo, r.in))
}

z <- test.1(x)
y
z

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