Description
Commodities: Markets, Performance, and Strategies provides a comprehensive view of commodity markets by describing and analyzing historical commodity performance, vehicles for investing in commodities, portfolio strategies, and current topics. It begins with the basics of commodity markets and various investment vehicles. The book then highlights the unique risk and return profiles of commodity investments, along with the dangers from mismanaged risk practices. The book also provides important insights into recent developments, including high frequency trading, financialization, and the emergence of virtual currencies as commodities. Readers of Commodities: Markets, Performance, and Strategies can gain an in-depth understanding about the multiple dimensions of commodity investing from experts from around the world.Commodity markets can be accessed with products that create unique risk and return dynamics for investors worldwide. The authors provide insights in a range of areas, from the economics of supply and demand for individual physical commodities through the financial products used to gain exposure to commodities. The book balances useful practical advice on commodity exposure while exposing the reader to various pitfalls inherent in these markets. Readers interested in a basic understanding will benefit as will those looking for more in-depth presentations of specific areas within commodity markets. Overall, Commodities: Markets, Performance, and Strategies provides a fresh look at the myriad dimensions of investing in these globally important markets.
Table of Contents
ContentsAcknowledgmentsAbout the EditorsAbout the ContributorsList of FiguresList of TablesAbbreviationsPart One BACKGROUND1. Commodities: An OverviewH. Kent Baker, Greg Filbeck, and Jeffrey H. Harris2. The Economics of Commodities and Commodity MarketsFlorian Ielpo3. Commodity Exchanges and RegulationJerry W. Markham4. Behavioral Aspects of Commodity MarketsJohn R. Nofsinger, Pattanaporn Chatjuthamard, and Xu Dai5. Commodity DerivativesNeil C. Schofield6. Fundamentals and Commodity PricesMichael S. HaighPart Two PHYSICAL COMMODITIES7. Physical CommoditiesXiaohu Deng, Seow Eng-Ong, and Andrew C. Spieler8. AgriculturalNicole Moran and Kelsey Syvrud9. EnergyMichael A. Penick and Lynn Riggs10. LivestockXiaohu Deng, Andrew C. Spieler, and Desmond Tsang11. MetalsGreg Leonard and Chanel O'NeillPart Three METHODS TO INVEST IN COMMODITIES12 Commodity Trading Advisors and Managed FuturesKoray Simsek and Halil Kiymaz13. Commodity Exchange-Traded FundsChristopher Milliken, Ehsan Nikbakht, and Andrew C. Spieler14. Commodity Mutual FundsGustavo Camilo, Janko Cizel, and Paul ZurekPart Four PERFORMANCE OF COMMODITIES15. Pricing of Futures ContractsTimothy A. Krause16. Commodity Return CharacteristicsDianna Preece17. Issues in Commodity Benchmarking PerformanceAaron Filbeck18. Volatility Transmission across Commodity Futures MarketsFrankie Ho-Chi Chau and Rataporn DeesomsakPart Five STRATEGIES AND PORTFOLIO MANAGEMENT19. Commodities in International and Emerging MarketsKamal Smimou20. Commodity Trading Strategies, Common Mistakes, and Catastrophic BlowupsHilary Till, Joseph Eagleeye, and Richard Heckinger21. Asset Allocation Strategies and CommoditiesClaudio Boido22. Food Prices and Food Price Volatility: Strategies for Extending the Reach of Risk MarketsDonald F. LarsonPart Six ISSUES INVOLVING COMMODITIES23. High Frequency Trading of CommoditiesRaymond P. H. Fishe and Aaron D. Smith24. Energy Risk ManagementThomas Barkley, Mingwei (Max) Liang, and Andrew C. Spieler25. Financialization of Commodity MarketsKyle J. Putnam and Ramesh Adhikari26. Virtual Currencies as CommoditiesLamia Chourou, Samir Saadi, and Azizah Aljohani27. Research Issues in Commodities and Commodity MarketsScott Mixon28. Future of Commodity Markets and InvestmentsHunter M. HolzhauerDiscussion Questions and AnswersIndex
