Savvy Trades and Investments

[researcher59]

FRD - they're building a large derivative liability on the balance sheet so that should translate into realized losses as the derivatives expire in future periods. In any case I think their press releases are rather deceptive .... they really had an overall LOSS past this quarter and book value went down accordingly. The press release trumpets record earnings and makes no mention whatsoever of the huge offsetting hedging losses.