Futures Markets: A Hedging Tool or a Casino?
Participants gathered at an oil conference on Cash and Futures in New Yorkon 2 February, asked to vote on whether they felt oil futures markets hadincreased or reduced price volatility, voted overwhelmingly in favor of increased volatility, despite a strong plea from some of the principal players inthe markets that futures contracts had proved to be a valuable hedging tool andhad therefore contributed to the...
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