The Gorton and Rouwenhorst
14. August 2013
The Gorton and Rouwenhorst (2006) paper is also problematic as it only looks at the returns on one specific commodity portfolio. Their study does not account for the high degree of heterogeneity in commodities. A different portfolio might have produced completely different results.
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Then I heard a whooshing sound. I thought perhaps something had blown out the door, but then I noticed that the entire door was gone. Everything seemed fine, and I didn’t feel the least bit nervous, but the pilot said we better put down on the drill ship and check out the helicopter.
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