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Which of the following portfolios is not possible to form using derivatives and securities that are fairly priced: A portfolio with a negative cash flow

  1. Which of the following portfolios is not possible to form using derivatives and securities that are fairly priced:
  1. A portfolio with a negative cash flow now and a positive cash flow in the future.
  2. A portfolio with a positive cash flow now and a negative cash flow in the future.
  3. A portfolio with zero cash flow now and zero cash flow in the future.
  4. A portfolio with zero cash flows now and a positive cash flow in the future.
  5. A portfolio with no risk that earns than the risk free rate.

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