NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Fooling Some of the People All of the Time: The Inefficient Performance and Persistence of Commodity Trading Advisors

Geetesh Bhardwaj, Gary B. Gorton, K. Geert Rouwenhorst

NBER Working Paper No. 14424
Issued in October 2008

---- Acknowledgements -----

This paper has benefited from comments and suggestions from Martijn Cremers, Ned Elton, Bill Fung, Mila Getmansky, Will Goetzmann, Marty Gruber, Raj Gupta, David Hsieh, Jon Ingersoll, Bing Liang, Jonathan Macey, Roberta Romano, Ken Scott, and seminar participants at UMass Amherst. The views expressed are those of the authors and do not necessarily reflect the official position of AIG Financial Products Corp or the National Bureau of Economic Research.

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