Firstly, AU drops a touch and guess "Who" pops up....
"...the contract is derived from the underlying asset. They are legitimate and wise risk management instruments".
It is these words which confirm to me you haven't learnt anything. It is these types of deeply flawed "learnings" which explain why the world financial system is once again on the precipice.
The trouble with most, if not all, derivatives are the very assets that underly the contracts....they have no value!! They are toxic. To say they are legitimate and wise management instruments is to prove your naivity. Actually, George states it well in his video...
