Are alpha commodity index products sustainable?
The third generation
In the beginning, things were simple when it came to index products. Back in 1991, Wall Street bankers created the Goldman Sachs Commodity Index (now called the S&P GSCI) to track the prices of a basket of 24 commodities. In the years that followed, the financial industry produced a wide array of products linked to the S&P GSCI that allowed investors to get exposure to commodity prices without having to hold physical barrels of oil, bushels of wheat and so on. Academics, fund managers and
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