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Commodities Rising: The Reality Behind the Hype and How To Really Profit in the Commodities Market Hardcover – June 23, 2006
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…you would definitely look like you did your homework with that in your man-bag.' ( City Wealth, November 2006)
From the Inside Flap
Over his thirty-year career, commodities expert Jeffrey Christian has gained broad firsthand knowledge about how these markets work; how commodities are monetized and traded around the world; and how these various transactions are executed. Now, in Commodities Rising, he wants to share those experiences with you.
Written in a straightforward and accessible style, Commodities Rising analyzes the current commodity environment and looks out over the next few years to identify potential profit situations for investors and traders. More importantly, it will show you how commodities can be used to reduce risk and increase returns in a balanced investment portfolio. You'll be introduced to a variety of ways in which you can gain exposure to commoditiesthrough both direct and indirect meansas well as discover some specific strategies that will allow you to use the instruments you choose effectively and manage your positions with confidence.
Commodities Rising also works hard to debunk much of the misinformation currently circulating about this market, and provides a reasoned and authoritative reality check. Some of the more widely circulated myths are addressed, including the concept of a long-lasting supercycle in rising commodity prices and the idea that China will be a massive consumer of commodities whose actions will drive prices even higher.
The second half of this book takes a deeper look at sixteen specific commodities grouped under the following headings:
- Precious metals: gold, silver, platinum,and palladium
- Energy: petroleum, natural gas, and uranium
- Tropical agriculturals: cocoa, coffee, and cotton
- Grains: corn, soybeans, and wheat
- Base metals: copper, lead, and zinc
Each chapter includes critical background information needed to assess the attractiveness of these individual commodities as investments.
Filled with in-depth insights, practical examples, and a number of engaging anecdotes, Commodities Rising is an invaluable informational resource for today's serious investor or trader.
Top Customer Reviews
The fact that Mr. Christian frequently appears on financialsense.com news hour certainly contributed toward my interest in the book, since I consider financialsense the world's premiere source for informed business news and analysis. (although I haven't developed any strong feelings one way or another about Mr. Christian's commentary to-date.)
As another reviewer pointed out, the book is comparatively bearish compared to most commentary from those involved with commodities. (establishment "bubblevision" commentators who aren't personally involved in commodities tend to be much more pessimistic about them, of course. By the way, I just read Fleckenstein's book on Alan Greenspan and I highly recommend it. He indicates in there that he was the originator of the term "bubblevision". A man far ahead of his time!)
Now, back to the book. I would say it is not bearish, but rather neutral during a time when most in the field are highly bullish. So compared to the prevailing mood he looks bearish.
Certainly in the time since his book came out commodities have far outpaced his expectations.
I would guess that a couple of his mistakes were:
1). Not anticipating the huge runup in petroleum prices, he was unaware of the dampening effect that high energy costs would have on economic viability of new and/or expanded mining operations.
2). He doesn't seem to have been very cognizant of the inflationary impact that monetary expansion would have on commodities prices.Read more ›
Here is a quick walk through Commodities Rising:
Chapter 1: The Commodities Rush Is On
The first chapter sets the stage for the rest of the book, explaining why the author felt a need to write this book. Since 2003 there has been a large run up in the price of commodities, thanks to increased demand from both developing economies and from increased investor demand. Investors have piled into commodities in the past few years for various reasons which are explained in later chapters.
Chapter 2: Myth of the Commodities Super Cycle and the Chinese Consumer Giant
The super cycle theory puts forth that there will be an extended run in commodities, potentially lasting for over a decade thanks to the rapid development of countries like China, India, and Russia. Furthermore, new production of in-demand commodities can't come on fast enough, which will drive prices even higher.
The reality, according to the author, is that these countries are not using raw materials nearly as fast as the investment community believes. On top of that, despite the rapid growth in incomes, per-capita incomes in the developing countries is still extremely low. In 2007 China's per-capita GDP was $5,400 a year, versus over $45,800 per year in the U.S.Read more ›
Most Recent Customer Reviews
Commodities markets are awash in misinformation and disinformation. Huge price swings can inflict painful losses. Should you flee to the investment standards of stocks and bonds? Read morePublished on January 25, 2008 by Rolf Dobelli
One of the strong points of this book was the authors obviously deep understanding of the commodities markets. Read morePublished on August 25, 2006 by Chris Jaronsky
I've read quite a few books and periodicals on commodities; Jeffrey Christian's book is the most comprehensive I've seen on the subject and it's written in a manner which makes it... Read morePublished on July 11, 2006 by Richard M. Rosso