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To: Robert Dirks who wrote (44865)11/11/1999 5:21:00 PM
From: SwampDogg  Read Replies (1) | Respond to of 116764
 
I have mentioned it before on this thread but it bears repeating...

When the CFO of ABX was on CNBC about 6 months ago, Mario Gabelli was the guest host. They were talking about ABX's hedging and how it contributed to their earnings. Gabelli compared the "clever" hedging program to Long Term Capital.
Quite a prediction on Mario's part...



To: Robert Dirks who wrote (44865)11/11/1999 5:27:00 PM
From: Enigma  Read Replies (1) | Respond to of 116764
 
"THEY HAVE A MASSIVE DEPT. DEDICATED TO NOTHING ELSE BUT HEDGING"

Maybe that explains why they make an extra couple of hundred million a year? My guess is that there are only a handful of people involved.