RE:Sophisticated investors understand hedgingHey Wolf , put that piece of fluff on ignore , he sold out at $0.68 (being cute) and is still waiting for $0.39 . He couldn't win a lottery even if he held the only ticket .
Your points on hedging are well articulated and keep in mind , most of those hedges were forced on BTE by the bankers . We'll all see who is laughing in another year or two .