Barrick got out of corporate bonds before the collapse,...and they didn't bother with South Africa, and they still get more money for their gold near half a year later, than other producers....I remember,...still in your profile,...
http://www.siliconinvestor.com/readmsg.aspx?msgid=17499894
No, he doesn’t have a "point." He doesn’t even know what a hedge is. Risk cannot be eliminated. There is no such thing as a hedge. All Barrick, Cambior, Ashanti, Ford, LTCM etc etc etc have done is to convert price risk into credit risk. But as ABX is going to discover, and the others have, credit risk converts to price risk at default or zero.
Russet is typical of the clowns that think there are free lunches.
Heads, I win; tails, you lose is their motto. To which they add, “see how clever I am?” If you want to see these guys in action real time, go to Las Vegas and watch the clowns that have a "system" to beat the house.
Sorry Charlie, it doesn’t work that way. |
