Post by
BayStreetWolfTO on Jul 09, 2021 12:24am
Don't bring me problems bring me solutions.
TD, unfortunately guys like Unlucky don't want to be part of a solution. They only want to complain about a problem. I always tell the grandkids don't come with a problem come with ideas or a solution. He never does.
He mentioned "I think oil is going back to $65 here with the noise" and panics on a WTI dollar drop of a few dollars.
Well for that there is a solution. BTE could hedge 100% of production August 2020 through April 2021 at an average of $70 right now. If Unlucky was really concerned he would be screaming hedge it all now....but he isn't which means he accepts the volatility and risk.
Without presenting ideas on risk mitigation he accepts the risks...and as far as I'm concerned when the kids accept the risks they can't complain about accepting those risks. Somehow I don't think he abides by the same standards as the grandkids. That said I don't know how his dad raised him. Millennials nowadays seem to have a certain sense of entitlement. However they also call me boomer so I guess touche.
Comment by
BayStreetWolfTO on Jul 09, 2021 12:27am
Correction Augist 2021 through April 2022