Why does a rise in the dollar hurt markel how does a


1. Why does a rise in the dollar hurt Markel? How does a falling dollar help Markel?

2. What does Markel do to hedge its currency risk? Can Markel use hedging to completely eliminate its currency risk?

3. Comment on Markel's policy of selective hedging. Are there any speculative elements involved in such a policy? Would you recommend Markel continue to follow a policy of selective hedging? Why or why not?

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