Level I Alternative Investments

Access to all Level I alternative investments articles until the next Level I exam date

The idea of roll yield – or roll return, same thing – is relatively straightforward: it’s part of the increase or decrease in the value of your portfolio that arises specifically when you roll over an expiring futures or forward contract into a new contract.  The other parts of that increase or decrease is the […]

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Most investors interested in commodity exposure do not get it through direct investments in commodities; they do not buy physical oil, or wheat, or gold, or pork bellies, or whatever.  Most investors (including mutual funds, ETFs, institutional investors, and individual investors) get commodity exposure through derivatives, specifically through commodity futures or forward contracts.  We’ll concentrate […]

This article is for members only.  You can become a member now by purchasing a

CFA® Level I Membership

This will give you access to this and all other articles at that membership level.