Originally Posted by
mondograss
Well hedges only last so long, if you'll recall they did hedge at 70c for quite sometime. I don't think anyone expected the kiwi to stay this high for this long.
So a company shouldn't adjust its operations to compensate? If tight (read "abhorrent") market conditions force a company to be more efficient in its approach, then what happens to that company once it's weathered the storm? And compare that to a company that just hangs on for grim death, saying she'll be right, this can't go on much longer... At least they're being responsive to the conditions and keeping the market aprised, more than can be said for some.