Doctor’s orders

Should you try to hedge a physical asset by simply selling its expected output? Neil Palmer shows how, in some scenarios, either under- or over-hedging could make more sense

This year marks the 250th anniversary of the publication of Doctor Samuel Johnson’s famous dictionary – the work that pretty much defined the English language until the 20th Century. Doctor J. was a great writer and talker. Some of his famous quotes include “When a man is tired of London, he is tired of life”, and “When a man knows he is to be hanged in a fortnight, it concentrates his mind wonderfully.”
Johnson was well aware of contemporary energy matters, and provides some interesting