问题如下图：
选项：
A. 
B. 
C. 
解释：
C为什么不对？？？听到消息，然后怕受影响？
NO.PZ2015122802000003 问题如下 Lisa Smith owns a manufacturing company in the UniteStates. Her company hsolgoo to a customer in Brazil anwill paiin Brazilire(BRL) in three months. Smith is concerneabout the possibility of the BRL preciating more thexpecteagainst the US ll(US. Therefore, she is planning to sell three-month futures contracts on the BRL. The seller of sucontracts generally gains when the BRL preciates against the US If Smith were to sell these future contracts, she woulmost appropriately scribea(n): A.heer. B.investor. C.information-motivatetrar. is correct.Smith is a heer. The short position on the BRL futures contraoffsets the BRL long position in three months. She is heing the risk of the BRL preciating against the US If the BRL preciates, the value of the cash inflow goes wn in USterms but there is a gain on the futures contracts.考点Intermearies Of FinanciMarketheer和投资者不同，它投资金融资产不是为了赚取利润，而是为了规避风险。通常对冲者手里是已经持有一定的资产的，但是担心手里这些资产未来价格会下跌，所以通过购买衍生产品来规避这些资产日后真的下跌时的风险。比如农民伯伯（heer）为了规避自己种的粮食未来价格下跌的风险而进入期货交易。这道题目很明显可以看出LISA是美国一家制造企业的老板，该企业生产的货品都销向巴西，由于担心巴西利拉贬值，进入了一个期货合约，因为他是从业务角度为潜在风险进行对冲，所以是heer。 原版书关于heer的定义是In general, heers tra to offset or insure against risks thconcern them. In aition to forwarcontracts, they muse futures contracts, option contracts, or insurancontracts to transfer risk to other entities more willing to bethe risks. Often the heer anthe other entity faexactly the opposite risks, so the transfer makes both more secure, in the grain example. 这个heer的知识点在讲义的哪里
能否说一下trar，investor，heer的区分？容易出的考点？
