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1. What is the value of an investor's (well diversified) portfolio following a fall in the S&P/ASX Index from 7300 to 6050, if the initial

1. What is the value of an investor's (well diversified) portfolio following a fall in the S&P/ASX Index from 7300 to 6050, if the initial portfolio value was $30 million and the investor used S&P/ASX 200 Index futures contracts to hedge the portfolio?

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