NO.PZ2019122802000013
问题如下：
Yankel Stein is the chief investment officer of a large charitable foundation based in the United States. Although the foundation has significant exposure to alternative investments and hedge funds, Stein proposes to increase the foundation’s exposure to relative value hedge fund strategies. As part of Stein’s due diligence on a hedge fund engaging in convertible bond arbitrage, Stein asks his investment analyst to summarize different risks associated with the strategy.
Describe how Short selling can create concerns for Stein’s proposed hedge fund strategy.
选项：
解释：
Since Hedge Fund 1 employs a convertible arbitrage strategy, the fund buys the convertible bond and takes a short position in the underlying security. When short selling, shares must be located and borrowed; as a result, the stock owner may want his/her shares returned at a potentially inopportune time, such as during stock price run-ups or when supply for the stock is low or demand for the stock is high. This situation, particularly a short squeeze, can lead to substantial losses and a suddenly unbalanced exposure if borrowing the underlying equity shares becomes too difficult or too costly for the arbitrageur.
股票所有者可能希望他/她的股票在可能不合时宜的时间归还，这可能会导致空头挤压，如果借入基础股票变得太困难或对套利者来说成本太高，则可能导致重大损失和突然不平衡的风险敞口。
老师，请问为什么只需要回到short squeeze 而不用回答credit issues 和time decay? 不需要回答全面3个risk吗？
