zeev, have you seen the "chart of the day" sp 500 earnings? does that seem right to you? maybe because it is adjusted for inflation. it just doesnt seem right.
Drooy does not have any hedges. They got out of the hedge business in the summer or fall of last year, and are currently exposed 100% to the price of gold. Their problem currently is the significant short position taken against them, and the strengthening rand to the dollar. That may change.
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