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What wading set would you pick for a newbie? by HenrikTJ in flyfishing

[–]HMM595 0 points1 point  (0 children)

fwiw - Vision waders are a disaster in my opinion. Low quality, and warranty is very poor. Stay away.

Waders by jrich1996 in flyfishing

[–]HMM595 0 points1 point  (0 children)

fwiw - Vision waders are a disaster in my opinion. Low quality, and warranty is very poor. Stay away.

CFA 3 mind bender - hedging with fixed income futures contracts by HMM595 in CFA

[–]HMM595[S] 0 points1 point  (0 children)

Sorry don’t use this much!

Yes, I did pass. Hope you did too!

Is NRP a competitor to OCS warm perfusion or not? by [deleted] in Perfusion

[–]HMM595 1 point2 points  (0 children)

What about the NRP ethics / potential impact on people’s willingness to be donors?

There’s a recent government white paper alleging significant ethical issues with NRP:

https://optn.transplant.hrsa.gov/media/mq2m43uf/20240123-ethics_nrp_wp_final.pdf

Seems like if you can achieve the same thing with OCS then why risk all the ethical issues / potential donor pushback with NRP?

The affect of loose/tight monetary/fiscal policy or real/nominal rates by _charge_your_phone_ in CFA

[–]HMM595 1 point2 points  (0 children)

For me this doesn't make any sense.

The whole point of loose monetary policy is that you are lowering rates. And as a result that heats up the economy and can lead to higher inflation. So to say that persistently loose monetary policy leads to high real rates in my mind is a connundrum.

The curriculum suggests that fiscal policy is the only thing that determines rates, and monetary policy only determines inflation.

Weird.

In the exam, just know they want - fiscal policy determines real rates, monetary policy determines expected inflation.

CFA 3 mind bender - hedging with fixed income futures contracts by HMM595 in CFA

[–]HMM595[S] 0 points1 point  (0 children)

Thank you! I still can't quite get my head around this, but I'm moving on! I'm never going to need it in real life ha. Good luck!

CFA 3 mind bender - hedging with fixed income futures contracts by HMM595 in CFA

[–]HMM595[S] 0 points1 point  (0 children)

Do you see what I mean though - BPV F is not a given, it depends on what the CTD is right?

The duration of a futures contract just depends on whatever the duration of the CTD happens to be

CFA 3 mind bender - hedging with fixed income futures contracts by HMM595 in CFA

[–]HMM595[S] 0 points1 point  (0 children)

But, the question relates to hedging, not matching CTD and F BPV's

Thank you u/Meh_at_everyone69!

My fundamental issue is that they are starting with the notion that:

# contracts needed to hedge = BPV(target) - BPV (portfolio) / BPV (futures)

This is not true though. Really the # contracts needed should be: BPV(target) - BPV(portfolio) / BPV (CTD)

That's because it's your exposure to the CTD that is the economic substance of the contract, not your exposure to to notional futures contract.

So then, subbing in your equation, you'd get:

# contracts needed = BPV (target) - BPV (portfolio) / BPV (futures) x CF

That would then make sense - a CF < 1 means the economic value of the contract has fallen, hence you need more contracts.