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How to Make Money with Commodities Hardcover – December 18, 2012

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How to Make Money with Commodities + All About Commodities (All About Series) + A Trader's First Book on Commodities: An Introduction to the World's Fastest Growing Market (2nd Edition)
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Editorial Reviews

About the Author

ANDREW T. HECHT spent nearly 35 years on Wall Street, including two decades at the trading desk of Phillipp Brothers, which became Salomon Brothers and ultimately part of Citigroup. Over the past three decades, he has researched, structured, and executed some of the largest trades ever made, involving huge quantities of precious metals and bulk commodities. Hecht contributes to Traders Magazine and consults for CQG and other companies involved in trading, producing, and consuming commodities. He is a member of the Mercy College MBA program executive network.

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Product Details

  • Hardcover: 224 pages
  • Publisher: McGraw-Hill Education; 1 edition (December 18, 2012)
  • Language: English
  • ISBN-10: 0071807896
  • ISBN-13: 978-0071807890
  • Product Dimensions: 6.3 x 1.1 x 11.3 inches
  • Shipping Weight: 1.2 pounds (View shipping rates and policies)
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (15 customer reviews)
  • Amazon Best Sellers Rank: #545,516 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

9 of 9 people found the following review helpful By Lance Volta on March 24, 2013
Format: Hardcover
You could do worse than to pick up Andrew Hecht's "How to make money with commodities" as your introduction to the world of trading commodities. He lays out all the major commodities, the factors that affect the price and tradability, and how commodities impact stocks and other investments. Backwardation and contango are also explained, and for the first time I understand what each means. Also of interest: oil is usually in backwardation, and nat gas is usually in contango. I'm not sure why that is (is it more expensive to store oil?), but maybe that will be in the sequel, "How to really make money with commodities." And that brings me to my main criticism, that the book is so elementary and pitched at such a beginner level that the reader doesn't feel he's getting the "inside scoop" or any good ideas for trading commodities.

To be sure, there are some great stories from his days trading commodities. The story of Andy Hall and the first Iraq war, or the world's largest sugar cube, or about the man whose word moves the cacao markets were all worth the price of admission. But in general the impression was that the book could have been pitched at a slightly higher level without the loss of much comprehension or interest. But in that vein, he does suggest that nat gas and silver are two markets to watch, and he makes some interesting comments about the lack of physical silver backing up futures trades in the yellow metal. Interesting. In addition, Mr. Hecht projects complete competence and knowledge, and the reader gets the impression there are few people who know more about the commodity markets. Altogether, an excellent introduction to the commodity markets, with an emphasis on intro.
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8 of 8 people found the following review helpful By Chad S on March 13, 2013
Format: Hardcover
This book is a fantastic read and provides a great guide to the commodity markets for investors at all levels. The author provides individuals with a method to research commodities and then invest in commodity based equities. This book can really help an investor make sense out of commodities in relation to other assets. The methods in this book are tied together with invaluable stories from decades of real life experiences. I highly recommend "How to Make Money with Commodities" for all investors. Whether you invest in commodities or equities, there is something for everyone in this book.
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5 of 5 people found the following review helpful By Halina Fontaine on February 18, 2013
Format: Hardcover
I found this book to be highly informative, topical and also at times entertaining. Andrew's insights and vast experience, having himself traded a significant number of commodity underlyings, sheds light on the intricacies and fundamentals of these markets. Equally fascinating are his remembrances of some of the more influential and colorful personalities who were key market-makers for these markets, which lends a human perspective to the exciting world of natural resource trading and investment. A must read for anyone who is starting to look at diversifying their portfolio into these markets.
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5 of 5 people found the following review helpful By Richard Zimmerman on February 14, 2013
Format: Hardcover
I found this to be a entertaining and informative book. The detail regarding commodities and how they trade is helpful and keeps the marketplace in perspective. There are helpful hints throughout the book. The descriptions of interactions between commodities and equities were an eye-opener for me. The authors' depth of understanding comes across throughout the book.
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4 of 4 people found the following review helpful By LOS on August 15, 2013
Format: Hardcover Verified Purchase
Having come from a commodity futures background, I bought this book because of the reputation as a great trader that Andy Hecht had. In this book he gives a true insight into how people should view commodities when considering many different trading avenues.The book is peppered with many real life stories that the author experienced in his career. These stories help to give a deeper understanding about how commodities pricing affects companies and economies.
The book is defined by chapters that work as great lessons to digest. Written in terms that make it easier for the average person to enjoy, I recommend it for every investor.
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3 of 3 people found the following review helpful By Mark Haskell on February 10, 2013
Format: Hardcover
Finally a book that makes sense out of the world of commodities and trading, and tells the story in a way I can understand. And it covered all of them. If only I had had this in my college economics class!
The author's real life experiences and stories also kept my interest throughout and I very much enjoyed the history. And I will definitely pay attention to the "Easy Tips"...
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2 of 2 people found the following review helpful By Christoffer Landqvist on October 16, 2013
Format: Hardcover
The information in this book is just outstanding. It's written in a way so that anyone could understand the contents, no matter if you are a seasoned professional or a novice. Some investing books only give you statistics and charts, where this book gives you a whole different depth. In addition to the great insights, you will also learn what moves the markets both from a fundamental and technical perspective. From a personal perspective I enjoyed the backstories on (for example) the old Gold Standard and how Cocoa was once priced (read the book and you will know what I am talking about).

Mr. Hecht passes along years of experience and Mr. Smith turns it into a great read. You will never regret buying this book.
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2 of 2 people found the following review helpful By Energy Trader on June 24, 2013
Format: Hardcover
Andrew Hecht does a great job of explaining the complicated worldwide commodity markets, while simultaneously using his experience as a commodities broker to provide the reader with real world examples instead of just hypotheticals. Mr. Hecht is able to provide a vast amount of knowledge on a variety of elements that come into play when trading commodities, while keeping the reader entertained at the same time through his personal stories. I would recommend this book for anyone looking to get involved in commodities. An informative and entertaining read!
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