National Repository of Grey Literature 2 records found  Search took 0.00 seconds. 
The impact of speculators on the commodity markets
El-Moussawi, Chadi ; Musílek, Petr (advisor) ; Derner, Tomáš (referee)
In the recent years, there has been growing talk of investing in commodities in the financial markets. In the past, the commodity markets served for purposes of the producers and the end-users of commodities. With gradual innovation of the financial markets in the 19th and 20th century the modern commodity markets evolved and became more standardized. This process was accompanied by the increasing interest of financial speculators. In contrast with the commercial participants, the goal of these new investors in the commodity markets is not to hedge against adverse changes in commodity prices but to profit on the price movements of commodities. The inflow of this group was intensified by the development of new financial instruments enabling these investors to enter the commodity markets. It is undisputable that speculators have positive effect on the markets, by providing liquidity and lowering transaction costs. What remains to be answered is the real effect which the speculators have on the commodity prices, and if their action does not create distortion in the commodity prices. The price development on the commodity markets during the recent financial crisis gives strong arguments in the hands of those accusing the speculators of the negative impact on the commodity prices, which sometimes lead to creation of price bubbles. The goal of this thesis will be the analysis of the effect of speculators on the commodity markets, and if this prejudice is justified.
Stock Market Crashes
El-Moussawi, Chadi ; Musílek, Petr (advisor)
This bachelor thesis is dedicated to studying stock market situation know as stock market crash, which composes of sudden, unexpected drop in prices of equities. This problem is closely related with the origin of speculative bubbles. Economists often try to explain this phenomenon through the studies of psychological behavior, thus we will refer to psychological analysis as a mean of describing stock market crash. In the theoretical part will also be discussed the theory of speculative bubbles and the theory of efficient markets, which is in contradiction with the former. In the second part of the thesis will be discussed different cases of stock market crashes. I believe that through analysing these situations I will be able to define main causes of the creation of speculative bubbles and the crashes that follow them.

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2 El-Moussawi, Caroline
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