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Strategies & Market Trends : Ride the Tiger with CD
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To: Rocket Red who wrote (106494)2/24/2008 4:37:02 PM
From: Claude Cormier  Read Replies (3) of 312818
 
Barrick is the hatred stock for its hedging practices. It is understandable and I would not buy it just for that. In fact I am indirectly short Barrick through puts on an ETF which owns a large portion of ABX.

But it has been performing rather well for good reasons. They have cut their hedges significantly in recent years and 9 millions ounces hedged might not be a problem at all if they are spreaded for delivery over the next 15 years. The production they have streamlined for the coming decade is more than enough to cover that.
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