MFC ... in the final analysisEveryone can talk till the cows come home ... this is only an accounting loss ... under US GAAP rules MFC would have reported a profit ... under Canadian a floating loss ... floating loss like some of us currently invested in stocks ... and institutions invested in stocks are treading water this year AT THIS POINT like me ... the fact is market is taking advantage of the situation and is hammering MFC ridiculously ... I bot at 12.19 ... I will buy again .... it was a falling knife situation at $16 ... not at $12 .... this is no nortel ... nortel was accounting fraud ... this company reports and assumes worst case scenario accounting rules ..... this is a company with real assets ... agree CEO is a rookie, agree that they should have hedged earlier, this is water under the bridge ....hopefully CEO has learnt and will not double speak .... hedging will be more circumspect ... markets will recover ... interest rates will inch up .... market is forward looking ... when the recovery comes fence sitters, doubters will be out with the first 30% upward move .... Cheers