Spending time looking at economic data releases or focusing on corporate earnings is a colossal waste of timeDavid Zervos, MD, Jefferies Over the years I’d written many articles suggesting that price forecasting based on market fundamentals is a waste of time – if not something worse. In polite society, this is not a popular claim, … Continue reading Trend following is the only valid answer to the problem of uncertainty
Lately I got into arguments about the proper role of hedging with some individuslas who, I thought, should know better. Their belief, essentially, is that operative businesses - mining firms, oil&gas producers, airlines... - should always hedge their price exposure and focus on generating value on their operations. In other words, ignore the price of … Continue reading Why hedging is key!