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[sharechat] Sanford Foreign exchange losses

From:	Marilyn Munroe <who.c@res.co.nz>
Date:	Fri, 7 Dec 2001 01:00:54 +1300

As a Sanford shareholder I read Veiwpoints criticism of their foreign 
exchange losses with interest.

It prompted me to dig out the latest annual report. I can not find the 
figures that viewpoint gives in the report, could you please give the page 
number and paragraph heading from where you extracted these figures.

Several N Z entities, such as the Waitangi fisheries Commission, also seem to 
have made a pigs breakfast of their foreign exchange hedging. I would 
appreciate a Sharechater in the know giving an explaination in plain language 
of, what this mechanism is, what the objective is, and why does it seem to go 
wrong so often?

Boop-boop-de-do Marilyn

P S My picks in Mike Hudsons bet the broker competition started with a bang 
and look like finishing with a whimper.



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