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A comment on Wall Street’s Largest Oil Trade (2017).

Re:Wall Street’s Largest Oil Trade (2017) by westwooded on Saturday April 11, 2020 @08:08PM (#22845130)
Would be useful to know the long term profitability of this annual hedge rather than cherry picking a great year. If, hypothetically, every other year they lost a billion, then this $5B gain doesn't seem as great.
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Re:Wall Street’s Largest Oil Trade (2017) by AQuantized on Saturday April 11, 2020 @09:39PM (#22845492)
It's not just about profitability, but insurance. It allows you to distribute the losses over a much longer period of time and fix them in your budget.
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Re:Wall Street’s Largest Oil Trade (2017) by ksj2114 on Sunday April 12, 2020 @01:21AM (#22846208)
Exactly, its a hedge. You hope you don't make a killing on the hedge!
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Re:Wall Street’s Largest Oil Trade (2017) by gaogao on Saturday April 11, 2020 @09:42PM (#22845503)
From the article:

> From 2001 to 2017, the country made a profit of $2.4 billion.

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