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3 pts D Question 34 Pretend that you used futures to hedge your entire portfolio against a decline in market prices. After the market fell,

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3 pts D Question 34 Pretend that you used futures to hedge your entire portfolio against a decline in market prices. After the market fell, you see that you still lost money. The most likely explanation is: Your estimate of the portfolio beta was incorrect The futures were mispriced You were short futures rather than long future The decline in the market was greater than you anticipated

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