Is the Hedge Worth Zero?

i put the hedge on in maethe third week in february, and by march twelfth, the hedge had gone from being worth nothing to being worth two point seven billion dollars. The markes dropped o five per cent or so at that pointe time. And we said, you know what? We've got this massive position in a hedge which maybe has the potential to double if the ne credit spreads widen to where they were during the financial crisis. So we made a decision to exit the hedge. And so we started selling hedge, and we started aggressively buying stocks. I went on t v to give a very bullish message, which was, now, look, i think markets...