To hedgers: Adding insult to injury

[jrz1972]

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I usually don't feel insulted if someone points out a mistake I have made, particularly if it helps me to avoid future mistakes, but it apparently makes some people very defensive.

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You haven't shown that full hedgers made a mistake. It isn't possible to show that, since complete hedging makes sense for people who are pretty risk-averse.

I don't understand the flame-wars that have broken out between hedgers and non-hedgers. Some people like to gamble, and some people don't. Why is this something that prompts arguments?