Forum Archive Index - December 2001

["Viewpoint ." <viewpoint_@hotmail.com>]

Donkeyboy - you mention opportunity and business certainty in your defence 
(?) of Sanford's FX policy.

Surely $42.2M (their foreign exchange losses over the past 5 years) is a 
large cost to obtain business certainty and to my way of thinking a huge 
lost opportunity.

Surely hedging is a zero sum game. In those transactions that Sanford lost 
$27.7M in 12 months to August the other party gained $27.7M. Or was that 
other party looking for business certainty as well which makes the whole 
game rather futile.

Whatever the in's our outs of the policy they stuffed up big time. Nobody 
seems to be accountable for this.

Gaynor from the Herald not too impressed either. Thought he was too kind to 
them this morning. And didn't go as far as naming the board member who is 
also on a board of a bank. Hope it wasn't capitalists dearest husband

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