GCARD

JP Morgan

The Superclasses of Assets Revisited

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The Superclasses of Assets Revisited
By Robert Greer, Scholar-in-Residence, J.P. Morgan Center for Commodities (JPMCC), University of Colorado Denver Business School and Member of both the JPMCC’s Research Council and the GCARD’s Editorial Advisory Board

The three “super asset classes” are Capital Assets, Consumable/Transformable Assets, and Store of Value Assets. This framework can help asset allocators consider the diversification of risk factors that produces more effective portfolios. This framework also contributes to the understanding of how commodity investing fits into comprehensive portfolios.

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Shaping and Hedging Renewable Power Purchase Agreements
By Brock Mosovsky, Ph.D., Director of Operations and Analytics, cQuant.io and Lance Titus, Managing Director, Uniper Global Commodities and Member of both the JPMCC’s Research Council and the GCARD’s Editorial Advisory Board

This article is the second in a two-part series on the valuation and risk assessment of renewable Power Purchase Agreements (PPAs). The present paper outlines methodologies for shaping and hedging renewable PPAs, and we discuss the benefits of each of these strategies from both the buyer and seller perspectives.

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ECONOMIST’S EDGE
Four Ideas to Consider When Analyzing Long-Term Prospects for Oil and Natural Gas
By Bluford Putnam, Ph.D., Chief Economist, CME Group and Member of the JPMCC’s Research Council

Periodically, analysts and forecasters benefit from spending some time thinking about what might be the most disruptive developments that could materially change the way we analyze markets over a long-term horizon. In this research, we provide a perspective on the developments that may shape oil and natural gas markets as they evolve during the 2020s.

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Hilary Till, Solich Scholar, J.P. Morgan Center for Commodities, University of Colorado Denver Business School; and Principal, Premia Research LLC

The sixth issue of the Global Commodities Applied Research Digest includes, amongst its articles, such familiar energy themes as (a) the importance of crude oil swing producers and spare capacity; (b) the dramatic changes in the liquefied natural gas markets; and (c) the analysis of renewable power purchase agreements. Along with these themes, we are including an educational special feature on cryptoassets and blockchain. We also congratulate Dr. Jian Yang, the JPMCC’s Research Director, for organizing a very successful conference of global commodity experts in August 2018, and we welcome Dr. Yosef Bonaparte as the newly named Director of the JPMCC, whom in turn is responsible for the day-to-day operations on the JPMCC, including its professional activities.

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Jian Yang, Ph.D., CFA, J.P. Morgan Endowed Research Chair, JPMCC Research Director, and Professor of Finance and Risk Management, University of Colorado Denver Business School
This issue’s Research Director Report covers both (a) the highlights of the JPMCC’s 2nd annual international commodities symposium and (b) additional international outreach activities by the JPMCC’s Research Director. The JPMCC’s next high-profile symposium, featuring global commodity thought leaders, is scheduled for August 12 and August 13, 2019 in Denver. We hope to see you there!

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Quick Links:

CU Denver Business School
J.P. Morgan Center for Commodities (JPMCC)
LinkedIn (GCARD) and JPMCC

Physical Address:

J.P. Morgan Center for Commodities
University of Colorado Denver Business School
1475 Lawrence Street
Denver, CO 80202

Mailing Address:

J.P. Morgan Center for Commodities
University of Colorado Denver Business School
Campus Box 165, P.O. Box 173364
Denver, CO 80217