The most amazing thing to me is that the senior management types are so fugging clueless about the actual state of affairs in the global economy. Published in 2008, still relevant today.... or are they:
?Perhaps 60% of Today?s Oil Price is Pure Speculation? | Global Research - Centre for Research on Globalization
So, the oil markets are rigged. Financial firms aren't "providing liquidity," it's the liquidity that is causing the volatility. The firms not only profit from the volatility, they induce it, because the greater the volatility, the greater their trading margins, the more handsome their profits.
MSNBC with John Slosar's comments on fuel hedging: "...if we knew exactly what [the price of fuel] would be, we'd be very smart."
Hey Slosar, go with these assclowns, they see to know exactly where the markets are going... day in, day out:
Virtu Celebrates Another Year Without a Single Day of Losses - Bloomberg Business
And now you know why you aren't
entitled to respectable cost-of-living increases, reasonable pay raises, a decent housing package. Every bloody penny has to be squeezed out of the operation so that one class of management clowns can hand over your hard-earned money to another set of finance clowns who get to pocket it themselves. It just might be that Swire itself is thieving its own profits by intentionally placing bad bets, then pocketing the difference through the trades gone south. Why share with the stock holders when you can just keep the money yourself through some elaborate "hedging" bets. If only I had thought of it myself.