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Which one of the following statements describes the stack and roll incorrectly? a. It is a hedging strategy to reduce investment risks, b. Creates long-term

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Which one of the following statements describes the "stack and roll" incorrectly? a. It is a hedging strategy to reduce investment risks, b. Creates long-term hedges from short term futures contracts c. Involves buying a futures contract with one maturity and selling a futures contract with a different maturity d. The hedger will roll futures contracts forward to hedge future exposures

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