Finance School of Management Speculators and Hedgers Hedgers: taking positions to reduce their exposures Speculators: taking positions that increase their exposure to certain risks in the hope of increasing their wealth .o The riskiness of an asset or a transaction cannot be assessed in isolation or in abstract uesTc8 Finance School of Management Speculators and Hedgers ❖ Hedgers: taking positions to reduce their exposures. ❖ Speculators: taking positions that increase their exposure to certain risks in the hope of increasing their wealth. ❖ The riskiness of an asset or a transaction cannot be assessed in isolation or in abstract