HedgingA lot of the hedging losses are unrealized and assume that prices will stay the same or higher. No doubt there will be some intense pain involved but Arc swallowed a whale, at the perfect time, and look to exit the purchase down the road in pretty good shape. Even with the hedging pain there will be money left over. Remember the famous words of Rasputin's wife when confronted with information about the extent of her husband's philandering. "He has enough for all", she said. There will be enough loot left over to make us all happy.