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c explain the convenience yield and how it relates to stock (inventory level) of a commodity; Flashcards Preview
L2 44 A Primer on Commodity Investing
> c explain the convenience yield and how it relates to stock (inventory level) of a commodity; > Flashcards
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c explain the convenience yield and how it relates to stock (inventory level) of a commodity;
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L2 44 A Primer on Commodity Investing
Class (9):
A Describe Types Of Market Participants In Commodity Futures Markets;
B Explain Storability And Renewability In The Context Of Commodities And Determine Whether A Commodity Is Storable And/Or Renewable;
C Explain The Convenience Yield And How It Relates To Stock (Inventory Level) Of A Commodity;
D Distinguish Among Capital Assets, Store Of Value Assets, And Consumable Or Transferable Assets And Explain Implications For Valuation;
E Compare Ways Of Participating In Commodity Markets, Including Advantages And Disadvantages Of Each;
F Explain Backwardation And Contango In Terms Of Spot And Futures Prices;
G Describe The Components Of Return To A Commodity Futures And A Portfolio Of Commodity Futures;
H Explain How The Sign Of The Roll Return Depends On The Term Structure Of Futures Prices;
I Compare The Insurance Perspective, The Hedging Pressure Hypothesis, And The Theory Of Storage And Their Implications For Futures Prices And Expected Future Spot Prices.