Bojim se, da sem – kar se odnosa do finančnega gemblanja s tujim denarjem tiče – očitno tudi jaz marksist. Finančni instrumenti in trgi so seveda koristni, vendar se je velika večina finančnega trgovanja spervertirala in je onstran osnovnega namena teh instrumentov in trgov.
‘Hedging’ used to be a way reducing the risk of selling or buying. Farmers waiting for their harvest to come in are uncertain about what price per bushel they will get at the market: will they get a price that makes them a profit and a living for next year or will they be made destitute? To reduce that risk, hedge companies offer to buy the harvest in advance at a fixed price. The farmer is guaranteed a price and income whatever the price per bushel at the time of going to market. The hedge fund takes the risk that it can make a profit by buying the harvest at a price below the eventual market price. In this way, ‘hedging’ can smooth out the volatility in prices, often very high in agricultural and mineral sectors.
But in financial markets, hedging and hedge funds take on a whole new function. …
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