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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

4:00 PM EST

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To: Bobby Yellin who wrote (16250)	8/20/1998 7:21:00 PM
From: Karen E Hoof	Read Replies (1) of 116779

re; derivatives....those exotic little devils...I see that they have hurt some Hedge funds in Europe...France and Swiss, that hedged with the Hungary and Chechoslovokia (sp) and one other....one was down 19+% and the other down 26%...with the devaluation in Russia....On CNBC Insana made comment this AM that some of the hedges came into big money...but they may never collect because of an inserted line that a currency devaluation nullifies the hedge....karen

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