by Adam Dunsby, John Eckstein, Jess Gaspar, Sarah Mulholland
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| List Price: | $60.00 |
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Product Description
Straightforward and accessible, Commodity Investing balances academic-quality analysis with clear, compelling prose, and provides those interested in this fast-growing field with unparalleled investment insights. Page by page, you’ll acquire a deeper understanding of this discipline and discover how to make more informed decisions when investing in such a dynamic environment. With this book as your guide, you’ll benefit from the lessons of experienced practitioners and quickly come to grips with what it takes to make it in today’s commodity market.
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Average Customer Review:
0 of 0 people found the following review helpful:
 Disappointing, 2008-10-01
The book presents a broad introductory overview on the key commodity markets.
There is very little in there that can't be found easily on the Internet.
It is just a good entry point for those who don't have a clue about commodities. If you are more advanced, this is not your book.
3 of 3 people found the following review helpful:
 Quant-Oriented Primer, 2008-07-06
This book is a well-written introduction. The authors state their biases; are explicit and up-front about what they omit; and, offer some information available in no other books. Overall, it is a great addition for quantitative practitioners, sharp MBA students, and PhD students seeking a market primer.
Some chapters are wonderful: concise while conveying the rich intricacies of a particular market. A unique benefit: the authors focus on data coherency. Issues which affect historical analysis (like contract redefinitions) are routinely mentioned. I've seen no other book that addresses such issues consistently.
Unfortunately, some chapters feel pro forma. Did one of the authors slack off on researching and writing? I don't know, but the other chapters are good enough that the difference is noticeable. Also, while I respect the decision to omit some markets (such as gold), that denies the reader a complete perspective.
The tone is that of an academically-trained practitioner: perfect, in my opinion for those who are quantitatively aware (but might not be quants). I'd also suggest the CBOT Handbook and Kolb and Overdahl's book on futures markets. For true quants, Geman's book on commodities is also an excellent companion.
3 of 3 people found the following review helpful:
 A complex topic well done, 2008-05-26
It isn't easy to write a book about investing in commodities---the topic can seem simple but can quickly become quite complex. The authors have done a very good job. My only criticism is that I would have liked to have seen more on ETFs and strategies for trading commodities (collars, swaps, etc). But it is probably best that the authors kept it simple enough to inform without causing confusion. It makes an excellent desk reference for someone wishing to learn more about commodities.
7 of 9 people found the following review helpful:
 A good basic primer, 2008-02-22
It's a good fundamental primer on most of the products in the commodities markets, discussing the supply and demand characteristics of the underlying products. It doesn't spend much time on trading or technical characteristics - the book is clearly aimed at introducing traders to the products they're actually trading, to the extent traders find that necessary. Useful discussion of energy products, crack spreads, as well as ethanol and agricultural products.
However, its fairly obvious that the authors were torn between writing a more academic study of the markets versus something more accessible to layman traders not generally known for their perusal of Financial Analysts Journal. Still, it was a bit jarring to read paragraphs that had both academic citations and 7 word sentences. It was as if there was a bit of a war between making it as simple as possible and trying to include important previous work in the field.
Overall, its a helpful overview to understand what drives the fundamentals of each market. While trading clearly requires a combination of both fundamental and technical considerations, the fundamental side tends to be oversimplified to the extent that its a question of whether its the fundamentals or the perception of those fundamentals which matters. But that's why you can't ignore price.
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