By Jeffrey M. Christian
"Commodities emerging, half memoir and half funding advisor, offers a different and functional standpoint that's in accordance with a unprecedented mix experiences."-Donald F. Larson, Senior Economist, international Bank"Jeffrey Christian brings twenty-five years of commodity marketplace adventure to his considerate and insightful new booklet. A willing analyst, Christian debunks many commodity industry myths. there was a considerable underinvestment in commodity examine of past due. His ebook is a 'must-read' for any investor wishing to prevent the pitfalls found in actual commodity investments."-Terrence F. Martell, PhD, Saxe exclusive Professor of Finance, Director, Weissman heart for foreign enterprise, Baruch university, CUNY;Public Governor, manhattan Board of Trade"If you might have learn one of many contemporary 'commodity craze' books, you will savour the extra cautious, thorough account Christian offers the following. His anecdotes and research will persuade you that this can be actually an insider's assessment."-Peter A. Biebel, vp, Director of Futures study, A.G. Edwards & Sons, Inc."In addition to its intensity, Christian's e-book is intensely reader-friendly, providing commodity concerns from numerous angles. I strongly suggest to an individual attracted to commodities that they learn this ebook; and to these nonetheless strange with the topic, i like to recommend that they have a look. The rewards could be major, intellectually and doubtless financially."-Takamasa Akiyama, Professor of improvement Economics, Nihon college, Mishima, Japan, and Senior consultant, starting place for complicated reviews onInternational improvement (FASID), Tokyo, JapanAnalyze the present commodity atmosphere and glance out over the following couple of years to spot strength revenue occasions in Commodities emerging. you will learn the way commodities can be utilized to lessen possibility and elevate returns in a balanced funding portfolio. writer and commodities professional Jeffrey Christian debunks a lot of the incorrect information presently circulating approximately commodities and offers a reasoned reality-check you should use to judge the claims and can provide of varied courses and brokerages within the commodity box. particular matters addressed all through this e-book comprise: the diversity of commodity investments?exchange traded money, shares, futures, and options;commodities within the worldwide economy;commodity trading/investing strategies.Filled with in-depth insights and fascinating anecdotes gleaned from the author?s 30 years within the commodity markets, this is often a useful source for the intense investor or dealer.
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Extra info for Commodities Rising: The Reality Behind the Hype and How To Really Profit in the Commodities Market
Qxd 5/15/06 1:32 PM Page 29 Myths of the Commodities Supercycle and Chinese Consumer Giant 29 a net importer to being a net exporter of an ever-expanding list of commodities and manufactured products. Also, a big chunk of the increased Chinese demand for raw materials and manufactured components is for use in Chinese manufactured goods for export, which merely reflects the shifting of demand for these commodities from other countries, such as the United States,Taiwan, or South Korea, to China. Such shifts do not reflect net increases in total fabrication demand worldwide, but only a shift in the location of manufacturing.
People talk about “another historical 17-year bull market in commodities,” although there is no real evidence that commodities prices ever experienced such long periods of rising prices (with the possible exceptions of times during world wars and other cataclysmic events). The entire house of cards collapsed within a couple of years, as recessionary economic conditions emerged and stock prices declined sharply. The S&P 500 declined 50 percent, and the NASDAQ fell roughly 80 percent. There are several major problems to this thesis.
However, most economists who dedicate their professional lives to studying commodities markets draw the opposite conclusion from these statistics. They point out that industrialization and the move to a postindustrial service-oriented economy have led to a long-term major decline in commodities prices. S. Inflation-Adjusted Commodity Prices then. Their analyses suggest that commodities prices should not be expected to rise back to the much higher inflation-adjusted levels of past centuries. Partly this is due to the fact that industrialization of the industries that produce commodities, from copper and steel to wheat and cocoa, leads to sharp increases of supplies and major declines in production costs.