With a loss of about ?2 million on each contract, as the index fell from about 19,600 to 17,600 the loss on 20,000 contracts amounted to about ?40 billion. The partial derivative notation is used as a reminder that n, c and m are held constant in calculating the rate of change. Gucci Shoes Jordans. Jagannathan and Wang (1996) offer an alternative explanation in which the beta-coefficients are allowed to vary across time. Gucci Purses For Less. Alternatively, from a more disinterested academic perspective, the predictions can be tested using methods similar to those described in chapter Here the goal is to identify which theories of economic behaviour are more (or less) consistent with the observed patterns of bond prices and their rates of return. Gucci Shoes Jordans. Research in the area remains active, with successive issues of the Journal of Finance and the Journal of Financial Economics containing many influential contributions to the field. Gucci Medium Interlocking Hobo. In the example above, suppose that the HDD index (for December delivery in Boston) stands at 900 in November. Gucci Shoes Jordans. The company offsets its futures position with losses that are compensated for by its trading profits (resulting from a high demand for the energy it supplies).