Funds are now at their highest net-long position in platinum since mid-October, while in palladium, funds reversed the liquidation seen in the previous report.

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In this report, the decline was a combination of liquidation (total longs fell by 4, 119) and fresh selling (total shorts rose by 4, 687).

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How significant, in percentage and dollar terms, is the difference between the values the investment managers report to the pension regarding alternative investments and the liquidation values the pension might actually receive in a forced liquidation?

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