NIC - General discussion, page-19

On The tsingshan guy
I have to disagree because shorting or hedging, should be used to keep a steady income flow, or to warrant a minimum sale price, often in conjunction with debit repayment insurance. Not to make gain and speculate, as if a nickel and steel company has become an hedge fund......the TD guy should have stick to what it does best, make steel, not play with financial instruments, hopefully he has learned the lesson.
In the end financial hedge providers and exchanges, will always be the winner, if you set yourself to bet against them big time or long terms. Look what happened to those that where long on nickel? They where supposed to make loads of money out of it, in stead they cancel their bets and no money.....
Indeed imv if a company has little or no debit to repay, hedging is more counterproductive that not. Mr TD was a reckless speculation, he tried to be too clever and was punished, hopefully wont do it again.