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Do Commodities Speculators Make Things Cost More?

Harvard Business Review

Markets that existed mainly for the convenience of industry have become dominated by exchange-traded funds, hedge funds, and investment banks. Ke Tang of Renmin University of China and Wei Xiong of Princeton University found that prices in non-energy commodities have begun to move in tandem with oil prices, and have become more volatile.

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The Tempting of Rajat Gupta

Harvard Business Review

from 1994 to 2003. It was hard not to notice, too, that by the end of Gupta's tenure — Firm rules limited him to three terms — major clients had begun to get into well-publicized trouble, most notably Enron, whose CEO had been head of McKinsey's energy practice. Let us be fair to the man and the firm he headed.