Larry Berman CFA, CMT, CTABMO Global Consumer Discretionary Hedged to CADIndex EDISC.TOWATCHJan 27, 2020

Cost difference compared to unhedged and where is cost of hedging shown. You don’t know ahead of time what the hedging cost is. The cost could be a plus to your returns. It shows up as a tacking error to the underlying index. We are way too early to say today's dip is an opportunity to jump in.