(a) Explain in your own words what we mean when we say futures markets are a zero sum game. (b) Is the stock market a zero sum game? (c) Suppose trader A sells a E-mini S&P 500 index December 2021 expiry (ESZ1) futures contract to trader B on May 7 , 2021. Suppose the price declines and trader A liquidates their position by buying a futures contract five days later on May 12, 2021.

You have just been hired as a brand manager at kelsey-white, an american multinational consumer goods company. recently the firm invested in the development of k-w vision, a series of systems and processes that allow the use of up-to-date data and advanced analytics to drive informed decision making about k-w brands. it is 2018. the system is populated with 3 years of historical data. as brand manager for k-w’s blue laundry detergent, you are tasked to lead the brand's turnaround. use the vision platform to to develop your strategy and grow blue’s market share over the next 4 years.