To Hedge or Not To Hedge

Little voice inside my head said
Don't look back
You can never look back
--Don Henley

On the back of today's events, feels like many people are lifting their hedges. Hey, if FOMC bubble blowers have your back, then why not? Moral hazard writ large, my friends.

Must admit that I've pondered this myself. Think I'll keep my hedge on for a while, though. Something tells me in may come in handy yet...

Current position is about 2% net short, with a significant position in precious metals and a smattering of equity long exposure against an index short. Overall asset allocation is roughly 1/3 each long/short/cash with the short bucket slightly favored.

Fortunately, because the metals have been outperforming here, the P/L has been ok despite my sizable hedge.

After chewing thru the FOMC announcement, my dominant thought has been, "I need more gold." (Gold ripped $35 higher on the FOMC announcement)

I did buy a bit before the close. Will look to do more.

position in SPX, gold