A note from Daniel

Commodities are also a subset of the world's traded assets, but they are regulated differently than securities. The most familiar example of a commodity that is not a security is gold. Information about commodities like gold isn't uniformly distributed, but it is, for the most part, uniformly accessible. There are, of course, gold-related companies, like mining firms, and there are investors and analysts who might be skilled at predicting the price of gold. But there isn't a set of people who have special information that could affect the price of gold the way there is with a security like Apple stock.

Daniel Read Write Own, page 174 · March 22, 2024 Save to shelf
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