Learning objectives: Differentiate between investment and consumption assets. Define short-selling and calculate the net profit of a short sale of a dividend-paying stock. Describe the differences between forward and futures contracts and explain the relationship between forward and spot prices...
Learning objectives: Define and describe the key features of a futures contract, including the asset, the contract price and size, delivery, and limits. Describe the rationale for margin requirements and explain how they work. Describe the mechanics of the delivery process and contrast it with...
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