Is the financialisation of commodities being reversed?

In the past 30 years, a process of financialisation has drastically reshaped the energy and commodity sector. Now, it appears the level of diminishing marginal returns has been reached and that process is shifting into reverse, says energy market veteran Vincent Kaminski

Vincent Kaminski

Many years ago, I received some very valuable advice: a young person weighing different career choices should march to the drums of history. Translated into actionable strategy, this implies identifying a fast-growing industry and its leading, cutting-edge firms, along with the skills required to get in the door for a job interview. The wave I have been riding for the past 30 years is the trend towards financialisation of the advanced economies, a process that can be defined as follows1:


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