Sure but a lot of fund managers would rather make 50% less money if they had 50% less risk. Just the way most of the industry is. But there are aspects I don't understand about the why either despite working in the industry so you've made me go do some reading (like you say - if they have to buy back the hedge, why not just buy then?). I have always just accepted 'hedging' as a given. I do it in my portfolio but usually by buying short ETFs or similar vs shorting the same thing I'm holding.
NEU Price at posting:
$13.10 Sentiment: Buy Disclosure: Held
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