1. Treasury officials expect the securities to have wide appeal to investors, including individuals, pension funds and insurance companies. 2. The opportunity to create a zero-investment, perfect hedge is shown by the two disequilibrium returns X and Y. 3. The return on security X is higher than that of Z implying that X is underpriced and Y is overpriced. 4. Along with superior returns, the securities have the added attraction of giving their buyers a warm, fuzzy feeling. 5. As anyone in a money market fund knows, even security has its risks. 6. Airport security would have him on the first flight to the funny farm. 7. But airtight security has a cost. 8. But the new GM security has a different tack. 9. But security does have its sacrifices. 10. But security does not have only a military dimension. |