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Gold/Mining/Energy : Barrick Gold (ABX) -- Ignore unavailable to you. Want to Upgrade?

To: russet who wrote (2296)	4/1/2002 8:00:10 PM
From: tyc:>	Read Replies (2) \| Respond to of 3558

You misunderstood ! Let me say here and now; I AM a shareholder of ABX for the very reasons you quote. Moreover I sell calls on my ABX holding; more calls than I own stock; and I hedge upside risk with a small holding of a volatile non hedger ! Is that speculating ? The question is not whether ABX is a well managed company. The question is "would the market value it higher if it didn't hedge ?". And that leads to the question "What is the market's criteria of "good management" ? Is it good management to follow practises that do not maximize market prices ? Can it "maximize shareholder value" if it detracts from the market price ?