紅同學(xué)
2023-04-16 12:04第三小題，“Fond du Lac, has been in business for more than 100 years and has developed sophisticated pricing models. Currently, their models predict that the price of corn is poised to more than double in the next six months. Fond du Lac has purchased a large amount of corn in the spot market and has taken delivery at its storage facilities. When the price increase occurs, they intend to sell the corn in the spot market.”這不是典型的speculator嗎？為啥選套利者？
所屬：CFA Level II > Alternative Investments 視頻位置 相關(guān)試題
來源： 視頻位置 相關(guān)試題
1個回答
Johnny助教
2023-04-16 13:58
該回答已被題主采納
同學(xué)你好，注意以下話語： taken delivery at its storage facilities，也就是說主人公會把現(xiàn)貨玉米運(yùn)到倉儲設(shè)備中進(jìn)行儲藏。
教材原文如下：They may own the storage facilities and work to manage that inventory in conjunction with the futures prices to attempt to make arbitrage-style profits. 套利者是會運(yùn)輸并儲存現(xiàn)貨資產(chǎn)的，也就是說他完整的復(fù)刻了從現(xiàn)貨到倉儲的過程，就是要通過期貨定價公式的不成立來賺取套利收益的。而speculator是純粹的賭方向而不是在賺取無風(fēng)險的價差
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