04.07.2014 - Commodity traders: Keeping track
Commodity traders make good villains. They are rich because they are secretive, well informed and ruthless. The beans, metals and grains that they trade affect every part of modern life. Consumers can blame them for high prices, farmers and miners for low ones. Politicians worry that they distort and rig the markets they operate in. Outsiders know surprisingly little about this world, and Kate Kelly, a reporter with CNBC, has done a good job of shedding light on some of the personalities who dominate it. Her book, “The Secret Club that Runs the World”, starts with a “cast of characters” including the well known—Mick Davis of Xstrata and his nemesis, Ivan Glasenberg of Glencore—and others less famous, such as Pierre Andurand of BlueGold Capital Management, who appears to have been a principal source for the book. ..............................................Full Article: Source
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