Question: A large-cap value equity manager has a $6,500,000 short equity portfokio with a beta of 0.92. An S&P 500 futures contract is available with a

A large-cap value equity manager has a $6,500,000 short equity portfokio with a beta of 0.92. An S&P 500 futures contract is available with a current value of 1,175 and a multiplier of 250. What position should the manager take to completely hedge the portfolio's market risk?

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