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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Tom L. French who wrote (3701)11/24/1997 6:32:00 PM
From: SJS  Read Replies (1) of 95453
 
Exactly TOM. Don't be long or short, be hedged.

Look at Mike's strategy, which he has shared with us on FGII. He's well hedged.

I have not really done a good job hedging my portfolio with OIL. It's a balanced portfolio, but not hedged. I guess it's that GREED thing again; most of us didn't want to give away future oil driller growth so we didn't hedge ourselves by selling calls on our stock, or some other conservative or riskier strategy.

I think I'll revisit those ideas very soon.
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