Actually, it does wash very well. Your period of time is far less interesting to me than it is to you,...because the time period you talk about bridges an aberration that occurred because of the end of government stupidity that put us on a gold standard in the first place, and caused the biggest spike in POG known to man, a big aberration for reasons you know well, that's why you chose it. You can prove anything you want choosing a suitable aberrant period of time. Now do the same over the time period 1930 to 1960. What do you get then? Or 1920 to 1950, or 1910 to 1940, or 1900 to 1930, or just about any other 30 year period of time in the last 400 years.
Now take the period you picked, 1964 to 2002, and prove that Barrick wouldn't have made more money unhedged than hedged, with the assumption that they hedged equal amounts of their annual production at each month. Guess what,...the hedged company makes more than the unhedged one,...do the calculations and try and prove me wrong on that equal hedging monthly basis. Show all your calculations, cause I will be marking (gggggggggggggg)
I think we should also differentiate between a FORD = "Found On The Road Dead" and some better line of cars (gggggggggggggggggggg) |
