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Showing 1 to 1 of 1 for “"Roll Yield"”.
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You can't squeeze blood out of a turnip: misconceptions of commodity investments and their disappointing returns
… is positive and holders of futures must roll futures to a higher priced future contract. The explanation herein dispels these conclusions and finds that the main driver of returns to futures is a premium associated with a commodity market. This evidence is presented both graphically and …