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"Luck and skill are two key elements in successful trading. The authors can't do anything for your luck, but they think and write clearly both about the way commodities markets really work and about the way futures markets for those commodities behave. This book will be an excellent resource for those who are drawn to these markets."
-Galen Burghardt, Senior Vice President, Director of Research, Calyon Financial
"Adam Dunsby [et al.] is well organized, rich in information, and eminently readable. Combining a comprehensive primer to the fundamentals of commodity markets, thoughtful and sophisticated considerations for developing systematic trading methods, and invaluable reference material, it will certainly be on the compulsory reading list for Aspect's research team."
-Martin Lueck, Director of Research, Aspect Capital Ltd
"At last, a refreshingly insightful and easy-to-read analysis of that very latest of investment crazes on Wall Street-commodities! The authors dare to challenge conventional wisdom and view this asset class through the prism of long-term, inflation-adjusted economic data, reaching the sobering conclusion that the historic price action of so-called non-renewable commodities may not be quite what the Malthusians of our day would have the public believe! This is a must-read for any person (be it for themselves or on behalf of an institution) who is giving consideration to making an investment in the commodities markets."
-Alex Ladouceur, Chief Executive Officer, Global Commodities Group, Prudential Financial
Investing in commodities has swelled dramatically in recent years, but information associated with this market has not followed suit.
That's why Adam Dunsby and his colleagues at Cornerstone Quantitative Investment Group (CQIG)-a leading commodity trading advisor-have created Commodity Investing. Filled with in-depth insights and expert advice, this book puts commodity futures investing in perspective and prepares you for what should be expected each step of the way.
Information outlined throughout these pages will allow you to excel within this arena. Some of the issues addressed include:
*
The building blocks of a commodity trading system
*
The essential aspects of various commodities such as natural gas, wheat, aluminum, and sugar
*
Commodity returns over the recent period of modern financial markets
*
And much more
You don't need to be a financial professional to be a successful commodities investor, but you do need to be prepared. With Commodity Investing as your guide, you'll gain a solid understanding of this investment vehicle and quickly discover what it takes to make it in this market.
"Luck and skill are two key elements in successful trading. The authors can't do anything for your luck, but they think and write clearly both about the way commodities markets really work and about the way futures markets for those commodities behave. This book will be an excellent resource for those who are drawn to these markets."
-Galen Burghardt, Senior Vice President, Director of Research, Calyon Financial
"Adam Dunsby [et al.] is well organized, rich in information, and eminently readable. Combining a comprehensive primer to the fundamentals of commodity markets, thoughtful and sophisticated considerations for developing systematic trading methods, and invaluable reference material, it will certainly be on the compulsory reading list for Aspect's research team."
-Martin Lueck, Director of Research, Aspect Capital Ltd
"At last, a refreshingly insightful and easy-to-read analysis of that very latest of investment crazes on Wall Street-commodities! The authors dare to challenge conventional wisdom and view this asset class through the prism of long-term, inflation-adjusted economic data, reaching the sobering conclusion that the historic price action of so-called non-renewable commodities may not be quite what the Malthusians of our day would have the public believe! This is a must-read for any person (be it for themselves or on behalf of an institution) who is giving consideration to making an investment in the commodities markets."
-Alex Ladouceur, Chief Executive Officer, Global Commodities Group, Prudential Financial
Investing in commodities has swelled dramatically in recent years, but information associated with this market has not followed suit.
That's why Adam Dunsby and his colleagues at Cornerstone Quantitative Investment Group (CQIG)-a leading commodity trading advisor-have created Commodity Investing. Filled with in-depth insights and expert advice, this book puts commodity futures investing in perspective and prepares you for what should be expected each step of the way.
Information outlined throughout these pages will allow you to excel within this arena. Some of the issues addressed include:
*
The building blocks of a commodity trading system
*
The essential aspects of various commodities such as natural gas, wheat, aluminum, and sugar
*
Commodity returns over the recent period of modern financial markets
*
And much more
You don't need to be a financial professional to be a successful commodities investor, but you do need to be prepared. With Commodity Investing as your guide, you'll gain a solid understanding of this investment vehicle and quickly discover what it takes to make it in this market.
ADAM DUNSBY is a principal at Cornerstone Quantitative Investment Group. He received both his undergraduate degree and PhD in finance from the Wharton School of the University of Pennsylvania.
JOHN ECKSTEIN is a principal at Cornerstone Quantitative Investment Group. He earned a BS from Brown University, where he studied computer science and cognitive science. Mr. Eckstein developed investment application software for money management firms prior to his current position.
JESS GASPAR is the Director of Research at Cornerstone Quantitative Investment Group. He earned his undergraduate degree from MIT and his PhD in economics from Stanford. After receiving his PhD, Mr. Gaspar was an assistant professor at the University of Chicago, where he did research and taught international economics and computational methods in economics and finance. Mr. Gaspar worked at McKinsey & Co. as a consultant before joining Cornerstone.
SARAH MULHOLLAND is the head trader at Cornerstone Quantitative Investment Group. She earned a BS in economics from the Wharton School of the University of Pennsylvania. Prior to joining Cornerstone, she traded energy derivatives for Enron North America and PSE&G.
Acknowledgments ix
PART ONE Basics 1
CHAPTER 1 Introduction 3
CHAPTER 2 Commodity Futures as Investments 9
CHAPTER 3 Commodities for the Long Run 29
PART TWO Understanding Energy 37
CHAPTER 4 Crude Oil 39
CHAPTER 5 Heating Oil 57
CHAPTER 6 Gasoline 67
CHAPTER 7 Natural Gas 79
PART THREE Understanding Grains and Oilseeds 93
CHAPTER 8 Corn 95
CHAPTER 9 Wheat 107
CHAPTER 10 Soybeans 117
PART FOUR Understanding Livestock 131
CHAPTER 11 Hogs 133
CHAPTER 12 Cattle 141
PART FIVE Understanding Industrial Metals 151
CHAPTER 13 Copper 153
CHAPTER 14 Aluminum 165
CHAPTER 15 Zinc 177
PART SIX Understanding the Softs 187
CHAPTER 16 Coffee 189
CHAPTER 17 Sugar 197
CHAPTER 18 Cocoa 207
CHAPTER 19 Cotton 213
PART SEVEN How to Invest 221
CHAPTER 20 Some Building Blocks of a Commodity Futures Trading System 223
CHAPTER 21 The Rise of the Indexes 245
CHAPTER 22 Conclusion 265
APPENDIX The London Metal Exchange 269
Notes 273
References 283
About the Authors 287
Index 289
Erscheinungsjahr: | 2008 |
---|---|
Fachbereich: | Betriebswirtschaft |
Genre: | Wirtschaft |
Rubrik: | Recht & Wirtschaft |
Medium: | Buch |
Inhalt: | 304 S. |
ISBN-13: | 9780470223109 |
ISBN-10: | 0470223103 |
Sprache: | Englisch |
Einband: | Gebunden |
Autor: |
Dunsby, Adam
Eckstein, John Gaspar, Jess Mulholland, Sarah |
Hersteller: |
Wiley
John Wiley & Sons |
Maße: | 235 x 157 x 21 mm |
Von/Mit: | Adam Dunsby (u. a.) |
Erscheinungsdatum: | 01.02.2008 |
Gewicht: | 0,593 kg |
ADAM DUNSBY is a principal at Cornerstone Quantitative Investment Group. He received both his undergraduate degree and PhD in finance from the Wharton School of the University of Pennsylvania.
JOHN ECKSTEIN is a principal at Cornerstone Quantitative Investment Group. He earned a BS from Brown University, where he studied computer science and cognitive science. Mr. Eckstein developed investment application software for money management firms prior to his current position.
JESS GASPAR is the Director of Research at Cornerstone Quantitative Investment Group. He earned his undergraduate degree from MIT and his PhD in economics from Stanford. After receiving his PhD, Mr. Gaspar was an assistant professor at the University of Chicago, where he did research and taught international economics and computational methods in economics and finance. Mr. Gaspar worked at McKinsey & Co. as a consultant before joining Cornerstone.
SARAH MULHOLLAND is the head trader at Cornerstone Quantitative Investment Group. She earned a BS in economics from the Wharton School of the University of Pennsylvania. Prior to joining Cornerstone, she traded energy derivatives for Enron North America and PSE&G.
Acknowledgments ix
PART ONE Basics 1
CHAPTER 1 Introduction 3
CHAPTER 2 Commodity Futures as Investments 9
CHAPTER 3 Commodities for the Long Run 29
PART TWO Understanding Energy 37
CHAPTER 4 Crude Oil 39
CHAPTER 5 Heating Oil 57
CHAPTER 6 Gasoline 67
CHAPTER 7 Natural Gas 79
PART THREE Understanding Grains and Oilseeds 93
CHAPTER 8 Corn 95
CHAPTER 9 Wheat 107
CHAPTER 10 Soybeans 117
PART FOUR Understanding Livestock 131
CHAPTER 11 Hogs 133
CHAPTER 12 Cattle 141
PART FIVE Understanding Industrial Metals 151
CHAPTER 13 Copper 153
CHAPTER 14 Aluminum 165
CHAPTER 15 Zinc 177
PART SIX Understanding the Softs 187
CHAPTER 16 Coffee 189
CHAPTER 17 Sugar 197
CHAPTER 18 Cocoa 207
CHAPTER 19 Cotton 213
PART SEVEN How to Invest 221
CHAPTER 20 Some Building Blocks of a Commodity Futures Trading System 223
CHAPTER 21 The Rise of the Indexes 245
CHAPTER 22 Conclusion 265
APPENDIX The London Metal Exchange 269
Notes 273
References 283
About the Authors 287
Index 289
Erscheinungsjahr: | 2008 |
---|---|
Fachbereich: | Betriebswirtschaft |
Genre: | Wirtschaft |
Rubrik: | Recht & Wirtschaft |
Medium: | Buch |
Inhalt: | 304 S. |
ISBN-13: | 9780470223109 |
ISBN-10: | 0470223103 |
Sprache: | Englisch |
Einband: | Gebunden |
Autor: |
Dunsby, Adam
Eckstein, John Gaspar, Jess Mulholland, Sarah |
Hersteller: |
Wiley
John Wiley & Sons |
Maße: | 235 x 157 x 21 mm |
Von/Mit: | Adam Dunsby (u. a.) |
Erscheinungsdatum: | 01.02.2008 |
Gewicht: | 0,593 kg |