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Handbook of Commodity Investingby Frank J. Fabozzi
The shift in the balance of economic growth from the developed world to the developing world shows no sign of reversal. For the first time in history, more people live in cities than in the countryside, and their material needs have led to an acceleration in demand for metals, energy, and food. The supply side has been slow to react fully to this change, and as a… See more details below
The shift in the balance of economic growth from the developed world to the developing world shows no sign of reversal. For the first time in history, more people live in cities than in the countryside, and their material needs have led to an acceleration in demand for metals, energy, and food. The supply side has been slow to react fully to this change, and as a result, many commodities have reached "tipping points," flipping from surpluses into shortagesand it appears likely that the current period of elevated commodity prices will be prolonged.
The Handbook of Commodity Investing provides the information necessary for investors to understand and successfully incorporate commodities into their portfolios. Filled with a comprehensive collection of information from experts in the commodity investment industry, this detailed guide explains the mechanics of the commodity market, performance measurement, risk management, asset allocation, and the different commodity products, including special classes of assets.
Editors Frank Fabozzi, Roland Füss, and Dieter Kaiser begin with a primer on the basics of commodity investing, offering insight into market participants, commodity sectors, commodity exchanges, return components of commodity futures, and the risk and performance characteristics of the sectors. They provide information on the all-important topic of risk management for commodity investments, outlining seven key principles for effective risk management of commodity futures portfolios. And they offer specific advice on how commodity products can be implemented within an investor's asset allocation, demonstrating how to efficiently design a commodity futures trading program, use hedge funds, and more.
In addition to providing an overview of the various commodity products currently available to investors, the editors offer more detailed information on some of the most important commodity sectors, including commodity market fundamentals for grain, cattle, and hogs; gold and silver; electricity and emissions trading in the European Union; and other key sectors.
An invaluable guide for individuals, institutional investors, and academics, The Handbook of Commodity Investing will show you how to successfully include commodities in a portfolio and provide you with the insights needed to fully understand the fundamentals of this volatileand highly profitablemarket.
Meet the Author
Frank J. Fabozzi, PhD, CFA, is Professor in the Practice of Finance and Becton Fellow at Yale University's School of Management and the Editor of the Journal of Portfolio Management.
Roland Fuss, PhD, is Professor of the Endowed Chair for Asset Management, European Business School (EBS), International University Schloss Reichartshausen, Germany.
Dieter G. Kaiser, PhD, is Director of Alternative Investments at Feri Institutional Advisors GmbH in Bad Homburg, Germany, where he is managing a dedicated commodities fund of hedge funds.
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