Oh, it's not about someone telling me what to do. I just respect certain people around here more than others, due to the way they approach providing information to others.
Thanks guys. Yes, wrcmad is better at holding his tongue than some If you haven't noticed, the best traders in the world don't share their secrets at all. Generally, the people that have nothing better to do than post internet blogs are the ones you shouldn't be listening to.
Perhaps.....or perhaps the hedged dealer will follow the pricing of the un-hedged dealers and earn back the cost of the hedge.
The best traders in the world buy stuff, and then tell people to buy stuff. After the prices go up when people follow their lead they sell, and then tell people they sold. Notice how Warren Buffett always says what he did, not what he is going to do? Do you think he is stupid?
I disagree. It is usually the self-proclaimed perambulls campaigning for others to follow their lead, and evidence clearly indicates these guys are very crappy traders, far from the best. There are a couple of big traders who do his for the publicity - Buffet is usually the only example people can offer. The best traders in the world are unknown, because they don't need to engage in any public communication.
WB silver example was just out-right "sold too early" Second the silver got taken away when the price hit a temporary top when he tried to earn a bit of $ writing call options on the silver. Really a joke.
Mmmmmm US$14 silver.... that is what I'm talkin' about!!!!!! yes, I did just wet myself a little, and buy some more
Maybe Tom started with genuinely helpful intentions when he shared his left-of-centre opinion, and the crowd was drawn by unintended consequences of mob-mentality?
Back to $15 silver, not saying we're going to see $16 silver bUT I think a few people might have just missed a busing opportunity rather than missing the beginning of the end for double digit silver prices. *waits 5 min for $9 silver*
Do you have sources / details for Tulvings case? When someone fails to hedge, it means that the timing of his hedging activity was bad. Or implicitly: it means that speculators beated him. In a dealers case (alike Tulving) it would practically mean that some customers (unexpectedly) sold (back) silver to him and/or the price changed unexpectedly. The last reason appears to me as the most uncommon, could it be that Tulving lost access to some data platform? Aside (?), I've seen Tulving mentioned (I think in 2011) as the cheapest bullion / big quantities seller, by people that appeared to me as cyclic players (read: churn out profit, implicitly inflict loss). Maybe some of his customers were smarter/more informed than him. But I don't know, it's all hypothetical, maybe I have to search together Tulvings story.
Think there is a saying that is appropriate for this: Pigs get fat, hogs get slaughtered Meaning: Idiom used to express being satisfied with enough, that being greedy or too ambitious will be your ruin.