hedger

then, at a later date, before the futures hedger would take a second position.

然后，在近期某一日，保值者通过做一相反的交易。

the var optimal hedge ratio is composed of two parts, which are the part of reflecting the speculating demand of hedger and the part of pure hedging, and therefore, it could further discuss the meaning of hedge ratio.

二是从理论上认为VaR最优套期比由反映套期保值者投机需求和纯套期保值两部分组成，更深层次地探讨了套期比的含义。

the method can be used to transfer market risks and expose the stock package of the hedger and partial profit related to market to the market risk.

采用这种对冲方法，可转移市场风险，仅使对冲者股票组合与市场有关的部分收益暴露于市场风险当中。

Market traders include hedgers, arbitragers and speculators. The approaches proposed in this paper are mainly for hedger and arbitrager, with little contribution to speculators.

其中，交易者可具体划分为套期保值者、套利者和投机者，而本文的交易策略主要针对套期保值者和套利者，对投机者指导意义不大。

the minimum variance strategy of hedging thinks differently viewing hedging as an investment portfolio in both current market and futures market. a hedger decides his position in both markets based on the expected return of the portfolio and its variance.

最小方差的套期保值交易策略认为套期保值实际上是对现货市场和期货市场的资产进行组合投资，套期保值者根据组合投资的预期收益和预期收益的方差，确定现货市场和期货市场的交易头寸。

Depending upon a hedger's cash market situation.

套期保值者根据自己在现货市场的处境.

i have already mentioned the labour of the hedger and ditcher, of the builder of walls or dykes.

我已提及了筑篱、挖沟、砌墙或建防护栏的劳动。

the purpose of hedge transaction is hedger transfer risk of price fluctuation on spot market. the result of hedge is usually affected by basis change. so basis risk can change the result of hedge.

套期保值者进行套期保值交易的目的是转移现货市场上的价格波动风险，套期保值交易效果常常受基差变动的影响，所以，基差风险的存在会影响套期保值交易效果。

a traditional view of truth in hedger ' s view and its limitation

从海德格尔的视界看传统真理观的主要缺陷

based on the theory of survive-existence from hedger, there is definitely no possibility for a substantial object to be in accordance with its statement, for they are totally different.

从海德格尔生存&存在论的视界看，由于一个物质性对象和一个关于它的陈述是根本不同的两个东西，从而二者无任何相互“符合”的可能。

"anybody that starts off as a hedger becomes a gambler and i have taken too many losses from hedging, so i don't do it anymore, " he says.

他表示：“任何一个最初以对冲为动机的人，最终都会变成一个赌徒。我在对冲上损失了太多的钱，因此我不会再这么做了。”

In this paper the classic design of futures market innovation is researched by genetic algorithms. On the basis of the model of the hedger and speculator number, and the construction of future contract, the chromosomes representation and operation are framed, simulation is performed.

研究了遗传算法在期货市场创新决策中的应用问题.在期货市场的保值者和投资者数目以及期货合约结构模型的基础上，设计了期货市场创新的染色体表达和遗传操作，并进行了仿真研究。