Commodities
Markets, Performance, and Strategies
Published on 26. April 2018
Book
Hardback
680 pages
978-0-19-065601-0 (ISBN)
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.
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.
Reviews / Votes
The coverage of the commodity markets as well as their workings and regulations is excellent. The editors have put together a book that will be of use not only to researchers but to graduate students of business and economics who are looking for an in-depth resource on commodities. * T.M. Marini, University of Virginia, CHOICE *More details
Series
Language
English
Place of publication
New York
United States
Target group
Professional and scholarly
Dimensions
Height: 240 mm
Width: 161 mm
Thickness: 41 mm
Weight
1174 gr
ISBN-13
978-0-19-065601-0 (9780190656010)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions
E-Book
03/2018
1st Edition
OUP eBook
€100.99
Available for download
E-Book
03/2018
1st Edition
OUP eBook
€100.99
Available for download
Persons
H. Kent Baker is a University Professor of Finance in the Kogod School of Business at American University. He has authored or edited 29 books and has published more than 170 refereed articles in such journals as the Journal of Finance, Journal of Financial and Quantitative Analysis, Financial Management, Financial Analysts Journal, and Journal of Portfolio Management. He has consulting and training experience with more than 100 organizations.
Greg Filbeck is a Samuel P. Black III Professor of Finance and Risk Management at Penn State Behrend and serves as the Director for the Black School of Business. Professor Filbeck has authored or edited 10 books and published more than 90 refereed academic journal articles appearing in the Financial Analysts Journal, Financial Review, and Journal of Business, Finance, and Accounting.
Jeffrey H. Harris is the Gary Cohn Goldman Sachs Chair in Finance in the Kogod School of Business at American University. Professor Harris has served as Chief Economist at the U.S. Commodity Futures Trading Commission and has published 24 refereed articles in such journals as the Energy Journal, Journal of Finance, Journal of Financial and Quantitative Analysis, Journal of Financial Economics, Review of Financial Studies, Financial Management, and Journal of Futures Markets.
Greg Filbeck is a Samuel P. Black III Professor of Finance and Risk Management at Penn State Behrend and serves as the Director for the Black School of Business. Professor Filbeck has authored or edited 10 books and published more than 90 refereed academic journal articles appearing in the Financial Analysts Journal, Financial Review, and Journal of Business, Finance, and Accounting.
Jeffrey H. Harris is the Gary Cohn Goldman Sachs Chair in Finance in the Kogod School of Business at American University. Professor Harris has served as Chief Economist at the U.S. Commodity Futures Trading Commission and has published 24 refereed articles in such journals as the Energy Journal, Journal of Finance, Journal of Financial and Quantitative Analysis, Journal of Financial Economics, Review of Financial Studies, Financial Management, and Journal of Futures Markets.
Editor
University Professor of FinanceUniversity Professor of Finance, Kogod School of Business, American University
Samuel P. Black III Professor of Finance and Risk Management, Director, Black School of BusinessSamuel P. Black III Professor of Finance and Risk Management, Director, Black School of Business, Penn State Erie, The Behrend College
Gary D. Cohn Goldman Sachs Chair in Finance, Finance and Real Estate Department ChairGary D. Cohn Goldman Sachs Chair in Finance, Finance and Real Estate Department Chair, Kogod School of Business, American University
Content
Contents
Acknowledgments
About the Editors
About the Contributors
List of Figures
List of Tables
Abbreviations
Part One BACKGROUND
1. Commodities: An Overview
H. Kent Baker, Greg Filbeck, and Jeffrey H. Harris
2. The Economics of Commodities and Commodity Markets
Florian Ielpo
3. Commodity Exchanges and Regulation
Jerry W. Markham
4. Behavioral Aspects of Commodity Markets
John R. Nofsinger, Pattanaporn Chatjuthamard, and Xu Dai
5. Commodity Derivatives
Neil C. Schofield
6. Fundamentals and Commodity Prices
Michael S. Haigh
Part Two PHYSICAL COMMODITIES
7. Physical Commodities
Xiaohu Deng, Seow Eng-Ong, and Andrew C. Spieler
8. Agricultural
Nicole Moran and Kelsey Syvrud
9. Energy
Michael A. Penick and Lynn Riggs
10. Livestock
Xiaohu Deng, Andrew C. Spieler, and Desmond Tsang
11. Metals
Greg Leonard and Chanel O'Neill
Part Three METHODS TO INVEST IN COMMODITIES
12 Commodity Trading Advisors and Managed Futures
Koray Simsek and Halil Kiymaz
13. Commodity Exchange-Traded Funds
Christopher Milliken, Ehsan Nikbakht, and Andrew C. Spieler
14. Commodity Mutual Funds
Gustavo Camilo, Janko Cizel, and Paul Zurek
Part Four PERFORMANCE OF COMMODITIES
15. Pricing of Futures Contracts
Timothy A. Krause
16. Commodity Return Characteristics
Dianna Preece
17. Issues in Commodity Benchmarking Performance
Aaron Filbeck
18. Volatility Transmission across Commodity Futures Markets
Frankie Ho-Chi Chau and Rataporn Deesomsak
Part Five STRATEGIES AND PORTFOLIO MANAGEMENT
19. Commodities in International and Emerging Markets
Kamal Smimou
20. Commodity Trading Strategies, Common Mistakes, and Catastrophic Blowups
Hilary Till, Joseph Eagleeye, and Richard Heckinger
21. Asset Allocation Strategies and Commodities
Claudio Boido
22. Food Prices and Food Price Volatility: Strategies for Extending the Reach of Risk Markets
Donald F. Larson
Part Six ISSUES INVOLVING COMMODITIES
23. High Frequency Trading of Commodities
Raymond P. H. Fishe and Aaron D. Smith
24. Energy Risk Management
Thomas Barkley, Mingwei (Max) Liang, and Andrew C. Spieler
25. Financialization of Commodity Markets
Kyle J. Putnam and Ramesh Adhikari
26. Virtual Currencies as Commodities
Lamia Chourou, Samir Saadi, and Azizah Aljohani
27. Research Issues in Commodities and Commodity Markets
Scott Mixon
28. Future of Commodity Markets and Investments
Hunter M. Holzhauer
Discussion Questions and Answers
Index
Acknowledgments
About the Editors
About the Contributors
List of Figures
List of Tables
Abbreviations
Part One BACKGROUND
1. Commodities: An Overview
H. Kent Baker, Greg Filbeck, and Jeffrey H. Harris
2. The Economics of Commodities and Commodity Markets
Florian Ielpo
3. Commodity Exchanges and Regulation
Jerry W. Markham
4. Behavioral Aspects of Commodity Markets
John R. Nofsinger, Pattanaporn Chatjuthamard, and Xu Dai
5. Commodity Derivatives
Neil C. Schofield
6. Fundamentals and Commodity Prices
Michael S. Haigh
Part Two PHYSICAL COMMODITIES
7. Physical Commodities
Xiaohu Deng, Seow Eng-Ong, and Andrew C. Spieler
8. Agricultural
Nicole Moran and Kelsey Syvrud
9. Energy
Michael A. Penick and Lynn Riggs
10. Livestock
Xiaohu Deng, Andrew C. Spieler, and Desmond Tsang
11. Metals
Greg Leonard and Chanel O'Neill
Part Three METHODS TO INVEST IN COMMODITIES
12 Commodity Trading Advisors and Managed Futures
Koray Simsek and Halil Kiymaz
13. Commodity Exchange-Traded Funds
Christopher Milliken, Ehsan Nikbakht, and Andrew C. Spieler
14. Commodity Mutual Funds
Gustavo Camilo, Janko Cizel, and Paul Zurek
Part Four PERFORMANCE OF COMMODITIES
15. Pricing of Futures Contracts
Timothy A. Krause
16. Commodity Return Characteristics
Dianna Preece
17. Issues in Commodity Benchmarking Performance
Aaron Filbeck
18. Volatility Transmission across Commodity Futures Markets
Frankie Ho-Chi Chau and Rataporn Deesomsak
Part Five STRATEGIES AND PORTFOLIO MANAGEMENT
19. Commodities in International and Emerging Markets
Kamal Smimou
20. Commodity Trading Strategies, Common Mistakes, and Catastrophic Blowups
Hilary Till, Joseph Eagleeye, and Richard Heckinger
21. Asset Allocation Strategies and Commodities
Claudio Boido
22. Food Prices and Food Price Volatility: Strategies for Extending the Reach of Risk Markets
Donald F. Larson
Part Six ISSUES INVOLVING COMMODITIES
23. High Frequency Trading of Commodities
Raymond P. H. Fishe and Aaron D. Smith
24. Energy Risk Management
Thomas Barkley, Mingwei (Max) Liang, and Andrew C. Spieler
25. Financialization of Commodity Markets
Kyle J. Putnam and Ramesh Adhikari
26. Virtual Currencies as Commodities
Lamia Chourou, Samir Saadi, and Azizah Aljohani
27. Research Issues in Commodities and Commodity Markets
Scott Mixon
28. Future of Commodity Markets and Investments
Hunter M. Holzhauer
Discussion Questions and Answers
Index