1. Which one is not true about Global Macro investing:

A) invests in asset classes rather than individual securities

B) incorporates macro insights

C) Always uses long-short constructs

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2. Which investment strategy is not used in Managed Futures?

A) trend following

B) valuation and mean reversion

C) mergers arbitrage

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3. What is the behavioral bias creating momentum profits?

A) market efficiency

B) illiquidity premium

C) initial underreaction to news

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4. Which one is not necessarily a source of profits for Hedge Funds?

A) compensation for information

B) compensation for liquidity risk

C) compensation for technology