commodity-linked companies

so if i get this right, a commodity linked company would be like Goldcorp for example and it’s a bad way to get commodity exposure because they would hedge their exposure??

yes sir.

they can hedge plus there are company specific problems that can occur

yes, goldcorp could be one. or like an oil services company for crude… but your example is a good one… there are gold miners that have hedged their positions and there are others who have left most unhedged… so with gold doing what it’s been doing lately, i would think gold miners that are unhedged have moved more closely in line with the actual commodity.

and yes, florin is right again, company specific problems as well.