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A portfolio manager who fully removes the systematic risk of a stock portfolio by selling futures contracts on a stock index, could achieve the
- "A portfolio manager who fully removes the systematic risk of a stock portfolio by selling futures contracts on a stock index, could achieve the same outcome by selling the shares and replacing the share portfolio with a risk-free bond portfolio."
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Analysis for Financial Management
Authors: Robert C. Higgins
10th edition
007803468X, 978-0078034688
