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Firstly I would like to thank you for the effort you put in preparing your videos, ipod casts, spreadsheets etc. I really appreciate your effort in making things simple for us. I realize how painful it is to go through the readings (ocassionally time and time again) and try and grasp the concept...

Thanks David Rudy

I have one more question on Basis. In your slides you use May08 and May09 prices. Now in May08 the spot is 4 and the futures prices is 3.8. The question is what future period should we use i.e. one month futures, one year etc. I have presumed we use 1 year futures in this example as we...