Assume that you are the hedge fund portfolio manager and are starting a new fund. You have received $1 million to invest in a portfolio of derivatives. You should invest at least 20% in each of options, futures, and derivatives. No one position may comprise more than 10% of your portfolio. For each derivative instrument included in the portfolio, assess the risk of that instrument. In other words, identify and examine what could go right and wrong with this instrument. Discuss scenarios where this instrument does very well in the investment environment and scenarios where this instrument will not perform well. Discuss also the potential returns of each instrument: what is the potential return under optimal conditions and potential losses under worst case scenarios. Finally, discuss how you plan to allocate your cash in your portfolio and whether you plan to use strategies based on leverage, shorting, or reverse repurchase agreementsMain Elements: 1. Index of potential derivatives instruments to include in portfolio 2. Short discussion of each instrument and the potential returns 3. Short discussion of each instruments and potential losses 4. Performance of instruments 8-10 pages

I need 2 substantive responses to the posts attached below by my fellow classmates. The responses must be substantive and have a minimum of 50 words.-------------------------------------------------Topic:After reading Greenberg and Wilner’s article, “Teaching Inventory Accounting: A Simple Learning Strategy to Achieve Student Understanding” (2011), found at: Greenberg, R. K. & Wilner, N.A. (2011). Teaching inventory accounting: A simple learning strategy to achieve student understanding . Issues in Accounting Education, 26(4): 835-844Discuss why you think the authors’ statement below causes confusion among students in regard to understanding the differences among FIFO, LIFO, and average cost:Students have a difficult time understanding the difference between the physical flow of inventory and the cost flow assumption. Specifically, they do not understand that the actual physical flow of goods relates to a process undertaken by a manufacturer or merchandiser, while the cost flow assumption relates to accounting reporting conventions. The physical flow does not have to be the same as the cost flow assumption (p.836).-------------------------------------------------POST #1:Honestly, I read this article first out of the required reading and the whole thing confused me. After reading it, I could not tell you the difference between cost flow and physical flow. The water bottle scenario did not help either. I believe I have a clear understanding though after reading this in the text book: “Grocers prefer a FIFO physical flow of milk cartons. Consumers prefer a LIFO flow as they desire a long refrigerator life and reach for the recently stocked milk. However, the cost flow in accounting need not match the physical flow in the store. I believe this means the consumer may purchase the items in LIFO terms while the grocer accounts for cost flow in FIFO termsI think this statement confuses learners as it says the physical flow relates to the manufacturer. Maybe if it said that it relates to what the customer does, it may have been clearer. As stated earlier, I have a better understanding after reading the grocer vs. consumer example in the text book. POST #2:I believe students are confused by the statement because its hard to understand that the financial records do not have to record actual costs. large amounts of inventory are manotinous to track specific costs for a specific item in thousanda of lots of merchandise. I too am a bit confused but think I am starting to get the idea. Like LIFO takes the most recent amounts paid out of inventory regardless of when the inventory was purchased. Average cost would take all amounts paid per group and divide it by the number of groups purchased in that accounting period. While trying to grasp this concept I did a search on cost vs physical flow inventory I came across a website that helped clarify. Cost flow is the real or assumed association of costs with goods either sold or in inventory. The assumed cost flow may or may not be the same as the actual goods flow.Though this statement or practice may appear strange, there is nothing wrong or illegal about this practice. Generally Accepted Accounting Principles (GAAP) accepts the use of an assumed cost flow that does not reflect the real physical movement of goods. Prabhjot Kaur. (2016)The Beginners Guide to Inventory Valuation. Retrieved from http://www.yourarticlelibrary.com/accounting/inven... . Im not sure if I could say this is a credable source but it sure did help me understand a bit better.

As you have learned in earlier accounting courses and again in this lesson, partnerships have a unique set of requirements in the formation process.Prepare a paper that discusses the significant elements of forming a partnership. Conduct research for the laws of the state in which you live that regulate the formation of partnerships. What other types of business formations are allowed by state law?Please do this research on Minnesota.Please make this paper 1-2 pages and in APA format.Please include a reference page and site sources within the paper.