32. Duration is important in bond portfolio management because II) III) IV) it can be used in immunization strategies it provides a gauge of the effective average maturity of the portfolio it is related to the interest rate sensitivity of the portfolio it is a good predictor of interest rate changes (b) (c) (d) I and II I and III III and IV I, II, and III 33. You sell short 100 shares of Loser, Inc. at $45 per share. Your maximum possible loss is (a) $4,500 unlimited $9,000 cannot be determined from the information given