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CFAI 2012 PM Q38

So question before you take the duration of the bond protion of the portfolio down to dur=.25 of the cash position, short 743 futures to do so. Get that. Now why in the second question when you then re-lever the postion with equity futures is the duration=0 NOT =.25 same as in the previous question???

do search, it not dur, it is beta…

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