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Books > Business & Economics > Finance & accounting > Finance > Investment & securities > Commodities
Volatility in Korean Capital Markets summarizes the Korean
experience of volatile capital flows, analyzes the economic
consequences, evaluates the policy measures adopted, and suggests
new measures for the future.
Deterrence of market manipulation is central to the entire
regulatory and legal framework governing the operation of American
commodity futures markets. However, despite all of the regulatory,
scholarly, and legal scrutiny of market manipulation, the subject
is widely misunderstood. Federal commodity and securities laws
prohibit manipulation, but do not define it. Scholarly research has
failed to analyze adequately the causes or effects of manipulation,
and the relevant judicial decisions are confused, confusing, and
contradictory. The aim of this book is to illuminate the process of
market manipulation by presenting a rigorous economic analysis of
this phenomenon, including the conditions that facilitate it and
its effects on market users and others. The conclusions of this
analysis are used to examine critically some legal and regulatory
anti-manipulation policies. The Economics, Law and Public Policy of
Market Power Manipulation concludes with a set of robust and
realistic tests that regulators and jurists can apply to detect and
deter manipulation.
Covers all the major commodity markets, their products,
applications and risks Learn how to invest, hedge and trade in the
related physical, equities and derivatives markets Commodities such
as oil and gas, food and water, solar and wind power, metals and
minerals, animals and fish have become a genuine asset class
alongside bonds, equities, and foreign exchange. Mastering the
Commodities Markets is an introduction to both the general
commodity markets and to specific products: precious metals, oil
and other hydrocarbons, rare earth elements, aqua and agriculture,
alternative energy and carbon and environmental commodities.
Beginning with the basics of commodities and how they have
developed as an asset class in their own right, the book then
introduces key commodities chapter by chapter, looking at the
background and context of each product, their origins and
manufacture, key market participants, pricing structures and
patterns, risks and how to trade, hedge and use indices. Mastering
Commodities Markets includes: Commodity prices and their effect on
financial markets Financial and non-financial market participants
Economics of commodities, pricing mechanics and markets Trading,
hedging, arbitrage and investing Commodity Indices
ISO 50001 - A strategic guide to establishing an energy management
system provides a practical but strategic overview for leadership
teams of what an EnMS (energy management system) is and how
implementing one can bring added value to an organisation.
'John is a hero to many private investors in the UK. By tucking
money away year after year, and choosing his investments wisely, he
has accumulated a portfolio worth more than GBP1 million.' The
Motley Fool 'I'm a big fan of the writings of John Lee. John Lee
moves the market.' Monevator 'Lord (John) Lee of Trafford was one
of the first UK investors to build an ISA portfolio worth more than
GBP1 million, reaching that landmark in 2003.' Daily Telegraph,
March 2012 John Lee is one of the UK's most successful private
investors. Beginning with an investment pot of GBP125,000 in the
early 1980s, by 2003 he had turned this into a thriving portfolio
of over GBP1 million, and it has significantly increased in value
since then. Using efficient investment methods, as well as pursuing
a winning 'buy and hold' strategy, he was the UK's first ISA
millionaire. In How to Make a Million - Slowly, John Lee offers
invaluable lessons that will help you make the right decisions
about your investments. Explaining why an unhurried portfolio is
the best and most sustainable strategy for growth, you will learn
how to spot opportunities, research and monitor the market, work
with management and above all, make money.
John MacNamara s timely report looks at the principles and practice
of structured trade and commodity finance deals and what can go
wrong. It is supported by invaluable case study material.
An authoritative guide to structured trade and commodity finance in
emerging marketsA detailed study of the problems and opportunities
presented by structured tradeA clear explanation of typical
structures and risk mitigation techniques"
The Efficient Markets Hypothesis is one of the most controversial
and hotly contested ideas in all the social sciences. It is
disarmingly simple to state, has far-reaching consequences for
academic pursuits and business practice, and yet is surprisingly
resilient to empirical proof of refutation. Even after three
decades of research and literally thousands of journal articles,
economists have not yet reached a consensus about whether markets -
particularly financial markets - are efficient or not. These two
volumes bring together the most influential articles surrounding
the Efficient Markets Hypothesis debate, from Paul Samuelson's
pathbreaking proof that properly anticipated prices fluctuate
randomly to Fischer Black's study of noise traders, from Eugene
Fama's empirical implementation of the Efficient Markets Hypothesis
to Robert Merton's analysis of stock price volatility.
Commodities have become an important component of many investors'
portfolios and the focus of much political controversy over the
past decade. This book utilizes structural models to provide a
better understanding of how commodities' prices behave and what
drives them. It exploits differences across commodities and
examines a variety of predictions of the models to identify where
they work and where they fail. The findings of the analysis are
useful to scholars, traders and policy makers who want to better
understand often puzzling - and extreme - movements in the prices
of commodities from aluminium to oil to soybeans to zinc.
Commodity Derivatives: A Guide for Future Practitioners describes
the origins and uses of these important markets. Commodities are
often used as inputs in the production of other products, and
commodity prices are notoriously volatile. Derivatives include
forwards, futures, options, and swaps; all are types of contracts
that allow buyers and sellers to establish the price at one time
and exchange the commodity at another. These contracts can be used
to establish a price now for a purchase or sale that will occur
later, or establish a price later for a purchase or sale now. This
book provides detailed examples for using derivatives to manage
prices by hedging, using futures, options, and swaps. It also
presents strategies for using derivatives to speculate on price
levels, relationships, volatility, and the passage of time.
Finally, because the relationship between a commodity price and a
derivative price is not constant, this book examines the impact of
basis behaviour on hedging results, and shows how the basis can be
bought and sold like a commodity. The material in this book is
based on the author's 30-year career in commodity derivatives, and
is essential reading for students planning careers as commodity
merchandisers, traders, and related industry positions. Not only
does it provide them with the necessary theoretical background, it
also covers the practical applications that employers expect new
hires to understand. Examples are coordinated across chapters using
consistent prices and formats, and industry terminology is used so
students can become familiar with standard terms and concepts. This
book is organized into 18 chapters, corresponding to approximately
one chapter per week for courses on the semester system.
Primary commodities - food, raw materials, fuels and base metals -
continue to be a substantial proportion of the exports of many
developing countries and account for over 40 per cent of world
trade. The determinants of primary commodity prices, and the terms
on which they are traded for manufactured goods, are topics of
considerable importance for development economists.The Economics of
Primary Commodities brings together in one volume important new
work by a group of leading scholars on the economic analysis of
primary commodity markets. Their detailed coverage of major recent
developments in the field include discussion of modelling and
policy issues. Topics addressed include excess co-movement of
commodity prices, the stabilization of earnings in volatile
commodity markets, a macroeconomic framework for trade terms
between north and south, and the influence of economic policy on
commodity markets. The essays should provide the reader with an
overview of the current 'state-of-the-art' and a useful platform on
which future research might be based. This book will be welcomed by
academic researchers, practitioners and postgraduate students
concerned with the economics of trade, economic development and
international economics.
The study of money, banking and financial markets is a required or
very popular elective in most undergraduate and graduate programs
in economics and finance in Africa. However, the textbooks used are
those written primarily for the developed world such as the United
States or the U.K. The result is that students graduate with
excellent theoretical knowledge about the subject matter as it
pertains to the developed economies, but lack the ability to apply
the same knowledge to less developed economies. Although the
subject matter of money and banking can be treated at a theoretical
level, it is best done with institutions in mind. As an application
oriented course, references and applications should, as much as
possible, be to the conditions and institutions present in the
environment where the subject is being studied and where the
knowledge will be used, rather than to institutions that exist
elsewhere in developed economies. The primary purpose of Essentials
of Money, Banking and Financial Institutions is to provide a text
in money, banking, and financial institutions in the context of the
developing economies, especially Africa. Throughout the book, a
deliberate effort will be made to focus the students' attention on
the need to develop the existing institutions so they can help to
accelerate economic development.
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