Is this paragraph on Internal Rate of Return incorrect?
I came across this paragraph on Internal Rate of Return (IRR):
"IRR, on the other hand, computes a breakeven rate of return. At any discount rate below the IRR, an
investment would result in a positive NPV (and should be made). If the appropriate discount rate is
above the IRR, then the investment will result in a negative NPV (and should be avoided). It's the
breakeven discount rate - the rate at which the value of cash outflows equals the value of the cash inflows"
Correct me if I mistaken, but can't IRR be a sort of "hurdle rate" such that if your IRR for a project exceeds
the hurdle rate, then you *should* invest in the project. And if the IRR for a project is less than your
hurdle rate, you should *not* invest the project? Or is the paragraph correct?
by 
gentleman2222
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