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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: que seria who wrote (676)	4/4/2001 9:40:57 AM
From: russwinter	Respond to of 4051

Based on the FN slides on the NDY deal at their web site, they are acting like apologists for NDY's hedging. The slides show the "progress made" since 1998 in restructuring this enormous hedge book. Instead of being nearly 100% forward deliveries, they have substituted about a third of that with puts and other derivatives that "allow some upside participation". Honestly, I'm not that impressed and really see this as a new problem for FN. I'm going to hang on for awhile (maybe a month or two) to see if FN takes further proactive steps to deal with this, or acquires another situation. On the later point, I'm going to take FN at it's word that more deals are coming and soon. I have a hunch there is a master plan. If not, I'm out.