RE: RedFoxCowpatty - as for being the idiot, read either today or yesterday's newspapers about what Barrick just did because of their hedge strategy.
Seems like others also consider the hedging strategy as not a wise move, especially in these times. So Einstein why did CBJ go down with the POG going down? Logic would say that the hedge would work more in CBJ's favour. So your logic is when POG goes up CBJ is okay eventhough technically their margin is locked in by the hedge and similarly if price of gold goes down then the hedge looks better. The market tells you that investors dont buy that argument.
So who is stuck in the cow dung now cowpatty?