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A portfolio manager wishes to leverage her equity position using index futures to a beta of 1.8. She currently has a well-diversified $260 million equity

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A portfolio manager wishes to leverage her equity position using index futures to a beta of 1.8. She currently has a well-diversified $260 million equity portfolio with a beta of 1. The current price of the S&P futures index is 1,200 (multiplier of $250). How many contracts are necessary to adjust the beta of this portfolio

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