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You are the manager of a 10,000,000 stock portfolio with a beta of .8 and are bearish over the next three months. You decide to

You are the manager of a 10,000,000 stock portfolio with a beta of .8 and are bearish over the next three months. You decide to hedge the portfolio with e-mini S&P 500 futures. The futures price of the contract is 2,000. The contract size is $50 times the futures price. How many contracts should you sell if you want to perfectly hedge downward movements in the market?

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