The S&P GSCI (formerly the Goldman Sachs Commodity Index ) serves as a benchmark for investment in the commodity markets and as a measure of commodity performance over time. It is a tradable index that is readily available to market participants of the Chicago Mercantile Exchange . The index was originally developed in 1991, by Goldman Sachs . In 2007, ownership transferred to Standard & Poor's , who currently own and publish it. Futures of the S&P GSCI use a multiple of 250. The index contains a much higher exposure to energy than other commodity price indices such as the Bloomberg Commodity Index .
26-398: The S&P GSCI contains as many commodities as possible, with rules excluding certain commodities to maintain liquidity and investability in the underlying futures markets. The index currently comprises 24 commodities from all commodity sectors - energy products, industrial metals, agricultural products, livestock products and precious metals. The wide range of constituent commodities provides
52-740: A finalist for the National Magazine Award for her coverage of America's widening wealth gap as part of a package of stories for Newsweek . In 2017, a second Newsweek cover story she wrote about the 9-11 attacks leading Ground Zero to become a deadly cancer cluster was also nominated for a National Magazine Award. McGrath Goodman was born in Boston, Massachusetts ; her parents were an English teacher and an artist. She graduated from St. Bonaventure University in 1998 with bachelor's degrees in journalism and political science. In 2012, UK politician John Hemming tabled an early day motion regarding
78-493: A journalist. " In a March 2014 Newsweek magazine cover story, McGrath Goodman published what she asserted to be the identity and location of Satoshi Nakamoto , the inventor of bitcoin . The article has generated controversy for its methodology and conclusions. Writing in Forbes magazine, Andy Greenberg stated that " Criticism of Newsweek’s article, which describes a silent standoff " as reporter Leah McGrath Goodman stood at
104-537: A report by the Organisation for Economic Co-operation and Development that used data from the Commodity Futures Trading Commission to make the case. For example, the report points out that even commodities without futures markets also saw price rises during the period. However, counter-arguments have been made that the commodities without futures markets saw their prices rise as a consequence of
130-531: A special writer and editor for The Wall Street Journal , Dow Jones Newswires , and Barron's , and was recruited from university by the Dow Jones Newspaper Fund. She has contributed to publications and agencies such as Fortune , The Financial Times , The Wall Street Journal , Condé Nast Portfolio , the Associated Press , Forbes and The Guardian . In 2010 McGrath Goodman
156-475: A weight to each asset based on the amount of capital dedicated to holding that asset just as market capitalisation is used to assign weights to components of equity indices. Since the appropriate weight assigned to each commodity is in proportion to the amount of that commodity flowing through the economy, the index is also an economic indicator. [2] Leah McGrath Goodman , a reporter with experience covering commodities markets, described an experience writing about
182-466: Is a world-production weighted index that is based on the average quantity of production of each commodity in the index, over the last five years of available data. This allows the S&;P GSCI to be a measure of investment performance as well as serve as an economic indicator. Production weighting is a quintessential attribute for the index to be a measure of investment performance. This is achieved by assigning
208-404: Is too big and too important not to be fully investigated. " Goodman wrote that when she asked Nakamoto about bitcoin during a brief in-person interview, Nakamoto appeared to confirm his identity as the bitcoin founder by stating: "I am no longer involved in that and I cannot discuss it. It's been turned over to other people. They are in charge of it now. I no longer have any connection." (This quote
234-618: The Goldman Sachs Commodities Index in her book "The Asylum". Around 2007, she wrote an article for the Futures Industry Association trade magazine about the indexes. She concluded the massive amount of money in the indexes following the oil futures market dwarfed the actual oil futures market, by around 5 to 1. She alluded to the theories of Milton Friedman , who believed that inflation was caused by "too many dollars chasing after too few goods". She concluded that
260-405: The S&P GSCI with a high level of diversification, across subsectors and within each subsector. This diversity mutes the impact of highly idiosyncratic events, which have large implications for the individual commodity markets, but are minimised when aggregated to the level of the S&P GSCI. The diversity of the S&P GSCI's constituent commodities, along with their economic weighting allows
286-434: The boldness of the publisher to launch a business magazine at a time when similar magazines such as BusinessWeek , Business 2.0 , Forbes , and Fortune were struggling to sell advertising space. In October 2008, the magazine reduced its staff by 20 percent, and changed to publishing only 10 times per year. The stand-alone website, portfolio.com, was merged with other Condé Nast Web sites, with advertising sales for
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#1732848876022312-506: The children of Jersey, stating, " I've never seen grown men in law enforcement and high-level government positions literally fear for themselves, their lives, and their families while trying to do their jobs and protect innocent people...Something is definitely wrong when investigating child abuse means being bullied, threatened, and smeared. As someone who cares about the island and cares about these people and these issues, I don't know if I can watch something like that and just not do anything as
338-496: The end of Nakamoto's driveway and interviewed him in the presence of police, focused in particular on Goodman's decision to name Nakamoto's family members who agreed to be interviewed, and Newsweek magazine's decision to publish a picture of his house. At the same time, Kashmir Hill, also from Forbes, defended the story, stating, " It's a journalist's job to invade privacy, and to report things that people often don't want reported, to tell stories people don't want told. The Bitcoin story
364-553: The first time in 2010, Portfolio.com published the results of American City Business Journals’ "SMB Insights: The Business of Brands," which rated more than 200 business brands across seven key attributes to determine overall rankings of brand strength. Additional studies included information on investing and brand-preferences by SMB owners, how SMB owners are using the Internet to improve their businesses and how SMB are increasingly leveraging wireless devices. Portfolio.com launched
390-478: The index to respond in a stable way to world economic growth, even as the composition of global growth changes across time. When industrialised economies dominate world growth, the metals sector of the GSCI generally responds more than the agricultural components. Conversely, when emerging markets dominate world growth, petroleum-based commodities and agricultural commodities tend to be more responsive. [1] The S&P GSCI
416-502: The indexes were apparently thus causing oil prices to rise. Her article was dropped after a man from the FIA magazine showed it "to people around Washington" and told her it would be "politically explosive". However, in a June 26, 2010 article in The Economist , the argument is made that Index-tracking funds (of which Goldman Sachs Commodity Index was one) did not cause the bubble. It describes
442-498: The reason she required entry to the UK. In 2013, the ban was lifted and a new visa granted after a campaign by British politicians and journalists. A major new inquiry into the abuse scandal led by a senior UK judge was also announced. In 2017, the inquiry concluded hundreds of children were abused on the island for decades. In an interview with Vice, McGrath Goodman said she would continue to research and complete her book on what happened to
468-540: The rising prices of commodities with futures markets: the World Development Movement , a social justice lobbying organization, states there is strong evidence that the rising price of wheat caused the price of rice to subsequently rise. Leah McGrath Goodman Leah McGrath Goodman is an American author and freelance journalist who has worked in New York City and London. She began her career as
494-399: The site handled by Wired Digital. The magazine announced its closing on April 27, 2009. A sister company, American City Business Journals , took over the website. American City Business Journals is a division of Advance Publications and publishes 40 weekly newspapers about business in local communities and their companion websites. In June 2012 American City Business Journals re-branded
520-403: The website to Upstart Business Journal ; the website closed in 2016. J. Jennings Moss was Portfolio.com's editor. He had been a Managing Editor at FoxNews and Senior Editor-News Manager for ABCNews among other roles. As a print magazine, Portfolio' s 100-person editorial staff was led by editor-in-chief Joanne Lipman . During her 22-year tenure at The Wall Street Journal , Lipman
546-496: The withdrawal of McGrath Goodman's UK visa, because she had been prevented from entering the UK after declaring her intentions to investigate allegations of a cover-up regarding the Jersey child abuse investigation , despite having a clean immigration and travel record. In interviews with the BBC, The Guardian and other media outlets, McGrath Goodman stated that she was confused as to why she
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#1732848876022572-685: Was involved in the founding of the Weekend Journal , as well as the Personal Journal. The Managing Editor was Jacob Lewis, the Design Director was Robert Priest, the Articles Director was Kyle Pope. Portfolio.com published regular business news stories and comprehensive findings of American City Business Journals’ research studies, which were analyzed by Godfrey Phillips, Vice President for Research at American City Business Journals. For
598-642: Was later confirmed by deputies at the Los Angeles County Sheriff's Department who were present at the time.) Several hours later, Nakamoto's P2P Foundation account posted a message stating he was not the person in Newsweek's article. Wired's Robert McMillan, however, reported that Nakamoto's account had been hacked. Cond%C3%A9 Nast Portfolio Portfolio.com was a website published by American City Business Journals that provided news and information for small to mid-sized businesses (SMB). It
624-470: Was not allowed entry into the UK and was therefore unable to catch a connecting flight into Jersey, a popular holiday destination and a British Crown dependency. UK Border Force stated that the reason she was denied entry was they were not satisfied she was genuinely seeking entry as a visitor for the limited period she claimed and she had attempted to mislead the Border Force officer about her travel plans and
650-506: Was previously the website for the monthly business magazine Condé Nast Portfolio , published by Condé Nast from 2007 to 2009. Portfolio.com had several interactive features, including "BizWatch," which had updates on companies and executives from selected news sources. Portfolio.com's April 2007 launch by Condé Nast was heavily reported on due, in part, to its large estimated budget reported to be between $ 100 million and $ 125 million (covering multiple years of operation), and to
676-573: Was the recipient of a Scripps Howard Foundation fellowship in environmental journalism and a visiting professorship at the University of Colorado at Boulder. Her first book The Asylum: The Renegades Who Hijacked the World's Oil Market , about the global oil trading market, was published in 2011. In 2014, a Newsweek cover story where she allegedly uncovered the identity of bitcoin's inventor attracted widespread controversy. In 2016, McGrath Goodman placed as
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