On Your Six
Well-known member
- Joined
- Mar 8, 2004
- Posts
- 4,507
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OYS I know you and 95% of the people on this forum don't understand hedging so I will keep this short.
SWA did not loose 120 mil. According to GAAP SW had to report the new value of the assets at close of that quarter. The heges (which SWA still has) are worth less than when purchased so that shows as a decrease in asset value. SWA has not sold that asset. Say we go to war with IRAN next week and oil goes to 210.00 a barrel. That would be an increase in that asset and for the close of the quarter SWA would show a gain of a few hundred million. It is only a loss when sold at a price less than purchased. SWA didn't sell them. Hope this helps you understand so in the future you can make better informed posts.
Keep trying to make a positive out of a negative. It was a bad quarter for you, and great for the legacies. Everyone else except you and AA did great, during the normally best quarter of the year. 95% of everyone out there understands that. Keep that spin going, your Q3 wasn't great.
Godspeed!
The OYSter