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Intelligent Commodity Investing: New Strategies and Practical Insights for Informed Decision Making
 
 
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Intelligent Commodity Investing: New Strategies and Practical Insights for Informed Decision Making [Hardcover]

Hilary Till (Editor), Joseph Eagleeye (Editor)

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Book Description

1904339638 978-1904339632 March 22, 2007
As commodities move into the realm of respectable investments and with research continually demonstrating their attractiveness in an overall portfolio, this book provides institutional investors with a framework for intelligent commodity investing.

With the booming interest in commodity investment as investors seek alternatives to more traditional investments there is a growing demand for up-to-date investment information. This book provides timely and intelligent insights from a broad range of institutional investors, consultants, hedge funds, commodity index providers, risk managers as well as research from academia.

This is the only multi-contributor book on commodity investment offering a breadth of opinions for sophisticated investors. It looks at commodity investment from the following perspectives:

  • The Investor
  • The Active Manager
  • The Commodity Index Provider
  • The Risk Manager
  • The Researcher

    The size of the global commodities derivatives market is now estimated to be around $750 billion. This growth is evident by the increased investment in commodity indexes and the growth of commodity hedge funds. Further evidence of growth is also seen in the increasing size of natural-resources mutual funds. China and other fast-growing countries are snapping up raw materials at a pace that, at times, is faster than mines and oil wells can produce them.

    In response to the rapid growth in the market, this timely publication will bring you up to speed on the trends and challenges of commodity investment, providing you with a practical investment framework.

    Recommended reading for hedge fund managers, pension fund consultants, mutual fund portfolio managers, endowment chief investment officers, futures traders, family office investors, commodity trading advisers, brokers, dealers and MBA students researching this important subject.


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Editorial Reviews

Review

The booming commodity investment market offers considerable rewards to investors who understand the unique characteristics, benefits and challenges of these capital assets. Orchestrating contributions from an impressive line-up of industry and academic experts, Till and Eagleeye have delivered an orderly, accessible, and opportune reference on active and passive natural resources investing. Encompassing asset allocation, investment strategies, and risk control, this is a must-read for all those interested in commodities as a new alternative investment class. --Noël Amenc, Ph.D., Professor of Finance, EDHEC Business School and Director, EDHEC Risk and Asset Management Research Centre

In recent years, commodity investing has come of age. But the analytical underpinnings of the market are still less well understood than those of markets in other asset classes. Till and Eagleeye have, in this collection, gone a long way towards filling that gap, and in an easily comprehensible style. It will be essential reading for commodity investors, or would-be investors, everywhere. --Sir Howard Davies, Director, London School of Economics and Political Science; and Former Chairman of the Financial Services Authority

From lasting principles in commodities investing to recent trends and leading edge techniques, this book covers a full range of concepts that are critical for anyone investing in these markets. At once comprehensive and relevant to the current environment, this book offers important information to both the experienced commodities practitioner as well as those simply interested in learning more about these increasingly important markets. --Mr. David Kuenzi, Head of Risk Management and Quantitative Research, Glenwood Capital Investments, LLC; A member of the Man Group (USA)

About the Author

Hilary Till is a co-founder of Premia Capital Management, LLC. She is also a principal of Premia Risk Consultancy, Inc., which advises investment firms on derivatives strategies and risk management policy. In addition, Hilary is an Advisory Board member of the Tellus Natural Resources Fund, a fund of hedge funds; and is a Research Associate at the EDHEC Risk and Asset Management Research Centre. Before co-founding Premia Capital, she was the Chief of Derivatives Strategies at Putnam Investments and prior to this position was a quantitative analyst at Harvard Management Company. She has a B.A. with General Honors in Statistics from the University of Chicago and an M.Sc. degree in Statistics from the London School of Economics (LSE). She studied at the LSE under a private fellowship administered by the Fulbright Commission.

Joseph Eagleeye is a co-founder of Premia Capital Management, LLC. Premia Capital uses statistical techniques to identify pockets of predictability in the commodity futures markets; risk management is a key part of the firm s investment process. Before co-founding Premia Capital, Joseph was a senior derivatives strategist at Putnam Investments. While at Putnam, he researched, back-tested and implemented systematic, relative-value derivatives strategies, which spanned the bond and commodity markets, as well as co-managing Putnam's institutional commodity programme. Prior to joining Putnam Investments, Joseph developed trading applications for Morgan Stanley s Equity Division and proprietary computer models for an urban economics consulting firm. He has also advised investment firms on hedging strategies, benchmark construction, index-replication strategies, and risk management. He holds a Bachelor of Science degree in applied mathematics from Yale University and an MBA from the University of California at Berkeley.


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Inside This Book (learn more)
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
commodity futures returns, net hedging pressure, commodities beta, negative roll yield, return index level, positive roll yield, futures price curve, individual commodity futures contracts, historical efficient frontier, arb clerk, commodity term structures, spectral risk measures, expected future spot price, soybean oil futures, crude oil index, notional holding, average arithmetic return, filling broker, agricultural futures markets, commodity investing, excess return index, physical commodity markets, spot premiums, adding incremental amounts, commodities asset class
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Mstar Long, New York, Dow Jones, Financial Analysts Journal, Ibbotson Associates, Journal of Portfolio Management, Journal of Alternative Investments, Financial Barclay, Global Markets Research, Global Bonds, Barclays Capital, Risk Books, Intelligent Commodity Investing, Chicago Board of Trade, John Wiley, Journal of Political Economy, New Zealand, Flat Index, Journal of Finance, Journal of Futures Markets, Journal of Wealth Management, Premia Capital Management, Second Rectification, European Union, Journal of Investing
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