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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?


To: T L Comiskey who wrote (51169)5/9/2002 9:33:18 AM
From: Jim Willie CB  Respond to of 65232
 
Barrick unwinding of hedges is not fast enough
so they are reducing by under 15% their exposure
so instead of losing $500M they will lose only $450M ?

the fire has been lit on hedge covering
no turning back
other hedgers are on the same path
this translates into sharply reduced supply

/ jim