开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

Evelyn.Y · 2021年05月05日

请问这样回答有答到采分点上吗

NO.PZ2019122802000013

问题如下:

Yankel Stein is the chief investment officer of a large charitable foundation based in the United States. Although the foundation has significant exposure to alternative investments and hedge funds, Stein proposes to increase the foundation’s exposure to relative value hedge fund strategies. As part of Stein’s due diligence on a hedge fund engaging in convertible bond arbitrage, Stein asks his investment analyst to summarize different risks associated with the strategy.

Describe how Short selling can create concerns for Stein’s proposed hedge fund strategy.

选项:

解释:

Since Hedge Fund 1 employs a convertible arbitrage strategy, the fund buys the convertible bond and takes a short position in the underlying security. When short selling, shares must be located and borrowed; as a result, the stock owner may want his/her shares returned at a potentially inopportune time, such as during stock price run-ups or when supply for the stock is low or demand for the stock is high. This situation, particularly a short squeeze, can lead to substantial losses and a suddenly unbalanced exposure if borrowing the underlying equity shares becomes too difficult or too costly for the arbitrageur.

Convertible bond arbitrage needs that bond prices changes and option’s prices changes have the same direction. If there is a different changing trending between bond price and option price, the portfolio manager would be suffered from a big losses.

1 个答案
已采纳答案

伯恩_品职助教 · 2021年05月05日

嗨,努力学习的PZer你好:


同学你好,你的回答是可以的。只是按照讲义的内容回答这些就可以了。考试的时间非常宝贵,写核心就行。

Short squeeze: the stock owner may want his/her shares returned at a potentially inopportune time, this may cause short squeeze, can lead to substantial losses and a suddenly unbalanced exposure if borrowing the underlying equity shares becomes too difficult or too costly for the arbitrageur. 

----------------------------------------------
就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

  • 1

    回答
  • 2

    关注
  • 665

    浏览
相关问题

NO.PZ2019122802000013 问题如下 Yankel Stein is the chief investment officer of a large charitable fountion basein the UniteStates. Although the fountion hsignificant exposure to alternative investments anhee fun, Stein proposes to increase the fountion’s exposure to relative value hee funstrategies. part of Stein’s e ligenon a hee funengaging in convertible bonarbitrage, Stein asks his investment analyst to summarize fferent risks associatewith the strategy.scrihow Short selling ccreate concerns for Stein’s proposehee funstrategy. SinHee Fun1 employs a convertible arbitrage strategy, the funbuys the convertible bonantakes a short position in the unrlying security. When short selling, shares must locateanborrowe a result, the stoowner mwant his/her shares returnea potentially inopportune time, suring stoprirun-ups or when supply for the stois low or manfor the stois high. This situation, particularly a short squeeze, cleto substantilosses ana suenly unbalanceexposure if borrowing the unrlying equity shares becomes too fficult or too costly for the arbitrageur.股票所有者可能希望他/她的股票在可能不合时宜的时间归还,这可能会导致空头挤压,如果借入基础股票变得太困难或对套利者来说成本太高,则可能导致重大损失和突然不平衡的风险敞口。 如题

2024-06-05 16:37 1 · 回答

NO.PZ2019122802000013 问题如下 Yankel Stein is the chief investment officer of a large charitable fountion basein the UniteStates. Although the fountion hsignificant exposure to alternative investments anhee fun, Stein proposes to increase the fountion’s exposure to relative value hee funstrategies. part of Stein’s e ligenon a hee funengaging in convertible bonarbitrage, Stein asks his investment analyst to summarize fferent risks associatewith the strategy.scrihow Short selling ccreate concerns for Stein’s proposehee funstrategy. SinHee Fun1 employs a convertible arbitrage strategy, the funbuys the convertible bonantakes a short position in the unrlying security. When short selling, shares must locateanborrowe a result, the stoowner mwant his/her shares returnea potentially inopportune time, suring stoprirun-ups or when supply for the stois low or manfor the stois high. This situation, particularly a short squeeze, cleto substantilosses ana suenly unbalanceexposure if borrowing the unrlying equity shares becomes too fficult or too costly for the arbitrageur.股票所有者可能希望他/她的股票在可能不合时宜的时间归还,这可能会导致空头挤压,如果借入基础股票变得太困难或对套利者来说成本太高,则可能导致重大损失和突然不平衡的风险敞口。 老师好 1)这题目如果把 short squeeze,cret issue antime c都回答上去, 可以吗? 还是因为这里只问了short sell 所以就只要回答short squeeze 这个concern就可以了? 2) cret issues 是否是问bonansto的concern的时候回答用的? 3) time c主要是针对convertible bon里embeecall option 的是吗?谢谢。

2022-05-17 16:32 1 · 回答

NO.PZ2019122802000013问题如下Yankel Stein is the chief investment officer of a large charitable fountion basein the UniteStates. Although the fountion hsignificant exposure to alternative investments anhee fun, Stein proposes to increase the fountion’s exposure to relative value hee funstrategies. part of Stein’s e ligenon a hee funengaging in convertible bonarbitrage, Stein asks his investment analyst to summarize fferent risks associatewith the strategy.scrihow Short selling ccreate concerns for Stein’s proposehee funstrategy. SinHee Fun1 employs a convertible arbitrage strategy, the funbuys the convertible bonantakes a short position in the unrlying security. When short selling, shares must locateanborrowe a result, the stoowner mwant his/her shares returnea potentially inopportune time, suring stoprirun-ups or when supply for the stois low or manfor the stois high. This situation, particularly a short squeeze, cleto substantilosses ana suenly unbalanceexposure if borrowing the unrlying equity shares becomes too fficult or too costly for the arbitrageur.股票所有者可能希望他/她的股票在可能不合时宜的时间归还,这可能会导致空头挤压,如果借入基础股票变得太困难或对套利者来说成本太高,则可能导致重大损失和突然不平衡的风险敞口。 老师,请问为什么只需要回到short squeeze 而不用回答cret issues 和time cay? 不需要回答全面3个risk吗?

2022-03-23 08:17 1 · 回答

NO.PZ2019122802000013 如题。

2022-01-30 22:20 1 · 回答