The Secret Club That Runs the World: Inside the Fraternity of Commodity Traders
| Author | : | |
| Rating | : | 4.86 (543 Votes) |
| Asin | : | 1591845467 |
| Format Type | : | paperback |
| Number of Pages | : | 288 Pages |
| Publish Date | : | 2017-03-28 |
| Language | : | English |
DESCRIPTION:
Ambitious Undertaking Kate Kelly took on a large task in attempting to piece together the world of commodities trading from scratch. This is noble of her, but my compliments related to this book end here.Overall, this was a very superficial glance at the commodities space. Rather than explain any inner-workings of the industry, Kelly just describes a few average bios of traders. This isn't nece. "The text is good and readable, but the story is somewhat misleading from the big picture of fiscal monopoly." according to Elías Kristjánsson. What this book has in common with the play The Merchant of Venice, by Shakespeare, is that observant Jews play a big role.What is unusual, is that the book is full of names of the players and their family status.What is not mentioned is that the excess trading and risk taking was the product of Universities which thought monetarism as a religion and was often confirmed by . Tariq Albazzaz said Horrible book on the subject. The good thing about the book is there are a few stories/names I hadn't heard of that I got to hear about. That leads to it being somewhat interesting at points. However, as someone who's in the industry, I can tell you this book is way over the top and exaggerated. The author also clearly does not have an understanding of trading and how markets work, which leads to bad w
And the contracts they trade are still so loosely regulated that the correct combination of money and skill creates irresistible opportunity. Kelly exposes the role of the hedge funds, banks, brokers, and regulators in this volatile market, through fascinating stories of “secret club” members such as . Pierre Andurand, a self-made multimillionaire who generated the winningest annual performance ever for an oil trader in 2008 and hired Elton John to perform at his wedding.Ivan Glasenberg, whose secretive Swiss commodities giant, Glencore, founded by the infamous American fugitive Marc Rich, orchestrated a massive merger with the help of former UK prime minister Tony Blair.Jon Ruggles, a brash know-it-all—recruited by Delta Air Lines to revitalize the airline’s fuel hedging business, he continued to make trades in his personal account, a questionable practice given his position.Drawing on her exclusive access to the secret club, and following the trail from New York to Houston, London, Dubai, and beyond, Kelly reveals the immense power in the hands of a few, and the so-far contentious efforts by the Obama administration to rein in the cowboys.. She gets closer than any previous reporter to understanding these whip-sma
--Vanessa Bush . But the great commodities boom of the early 2000s attracted flamboyant risk-takers, whose transactions ultimately produced wild swings in prices on gasoline, food, and other essentials and prompted regulators to try to crack down. With exclusive access to the major players in the commodities market, Kelly offers fascinating portraits of huge egos and details of byzantine deals, including a massive merger aided by former UK prime minister Tony Blair. This is an absorbing inside look at the shady world of multinational brokers. From Booklist Hedging the risk of investing in commodities used to be the fairly dull province of a few brokers and traders on one side of a transaction and farmers and end users of crude oil, copper, and pork bellies on the other. CNBC market reporter Kelly (Street Fighters, 2009) unveils the secretive world of unregulated hedge funds, of banks and brokers who trade for their own accounts often against the interests of their customers. Amo
KATE KELLY, author of the New York Times bestseller Street Fighters, covers Wall Street for CNBC. She lives in Brooklyn with her family. She spent ten years at the Wall Street Journal, where she won a Livingston Award and two Gerald Loeb awards.