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Commentary Topic from greenfaucet

Bookstaber: Commodities Are Not An Asset Class

Richard Bookstaber has an interesting commentary up about asset classes and diversification.

Cutting to the chase he does not feel that commodities are an asset class because “they are factors of production. They do not generate returns, they have no claim on production…” As I read his thought process it feels like a discussion of what the meaning of “is” is.