The World for Sale Paperback – 1 January 2022

A non fiction but reads like a fiction.The subject Commodity Trading is not very familiar to me but the book not just introduced me to that but gave me inside out of commodity trading/ traders.This world is completely a different one operating with its own principles, systems and laws. They don't adhere to any government directives or policies and they have a way to by pass any government strictures. It's a ruthless world where only money matters, nothing else does.The workings of commodity traders is completely shrouded in mystery so much so that no one company wants to go public for the fear that they have to be transparent and make statutory disclosures. Among the largest ones just one company has gone public and the rest are still privately owned. But the commodity trading world is changing for the better for sure and the days of ruthless manipulations is coming to an end.Fabulously written in a racy style the book is a must read for anyone who wants to understand Commodity trading. It's a parallel world and economy.

very interesting insights, though i expected much more but I believe it’s hard to extract any information from the very secretive industry !but nevertheless definitely worth reading to understand the functioning of traders and how commodities move.

I have been reading books and books, this blew my mind. Can a few individuals hold so much power, simply trading ? And when it comes to commodities, that's a reality. Enormous amount of power gives them the ability to shape geopolitics too. Jack and Javier have done a fantastic job, very well researched, in true Bloomberg style narrative. The players are glorified, which suits the narrative, and the authors have tactfully avoided describing their challenges and troubles, glancing over those at times. Given the transparency available today, I wish the authors also covered to some extent, the recent moves and future possibilities. A lot of the details are quite historical, which is commendable, but it lacks connection to today's realities. Does the realities stay the same, will history repeat itself ? Time will tell.

Behind the glitz and glamour that we come across lies the pain and fear felt by commodity traders while indulging in hugely risky situations to procure cheaper inventories. Since, I understood what the writer wanted to convey, the book is great

When I was 16, a dear school friend first told me about Marc Rich. This book taught me everything about him, the CRAZY, INSANE world of Commodity trading & the MAD people who operate in this realm.This book is like a DEEP Gold mine? (I've never been in one). Once you get in, you have no clue where you are & getting out takes hours. It is an exhausting read but amazingly informative.Why you must read:- A (terrifying) reminder of how morals & ethics can evaporate when Profits & Business opportunities become irresistible.- The incessant energy of entrepreneurs & their undying will to succeed.- How Nations were saved & manipulated by commodity traders.- This book taught me what I would (personally) NEVER do in business.- Quotes:- Marc Rich + Co made so much money in the oil crisis of 1979 that it would have ranked as one of America’s 10 most profitable companies.- The Cargill family contains 14 billionaires – more than any other family in the world.- X would fly 1st class, booking a full row of seats to keep with him several large suitcases full of paperwork that he always carried with him everywhere.- "Always have something to sell."- The Dutch were wonderful, but they didn’t want to work outside nine to five. That ruled them out quite quickly.- Walking into Glencore’s headquarters at 8.30 a.m. would get you a sarcastic ‘good afternoon’ greeting :)- By the mid-2000s, Africa had become a place where the commodities that no one else wanted could be disposed of.- ‘It’s a business that shouldn’t be public,’- PepsiCo briefly became one of the world’s largest naval powers when it agreed that, in exchange for the Pepsi it was selling to the Soviet Union, it would be paid with 17 Soviet submarines, a cruiser, a frigate and a destroyer. :)Must read (5-6 hours minimum)

Overview of commodity trading. The book is a long read and can be tough read

I listened to the audio version of the book before buying the print edition. I was in the corporate world for many years, with a few of those in commodities. During this period, I did not consider commodity traders' immense impact on our politics, the price of commodities, and the dominance of a few companies in this sphere.The book is gripping, giving me much food for thought, be it the concept of corporate strategy, the impact of business on geopolitics, or any other associated area.Consider the book to be a launchpad for a more detailed study.

A great book to learn about the world of commodity traders.

I have the paperback which is 328 pages not including acknowledgements and footnotes. If you're interested in the global trade in oil, minerals and grains, this book gives an excellent introduction, with the principal focus on oil. The Introduction is entitled "The Last Swashbucklers" and the Conclusion is entitled "A Lot of Skeletons." This gives a good sense of the book's thrust, an ethos of "how can I make really, really large amounts of money" without worrying about the consequences to third parties. Sometimes those consequences could be helpful and sometimes not. The book elaborates on both with the emphasis on the political effects of trading, which has the effect of propping up all sorts of political elites, some you may like and some you may not.The first roughly 1/3rd of the book details the rise and fall of Marc Rich, who started his career at Philipp Brothers, but left to go his own way in a dispute over how much he should be paid. Marc Rich was a colorful figure who, for a while, exercised a lot of power over the oil market. Mr. Rich's downfall led to the creation of several major trading houses. The book discusses this.Glencore, Vitol, and Trafigura are successors to Marc Rich and they operated as swashbucklers too. They traded in other commodities besides oil and the book looks at some of these trades as well. According to the authors, much of the success of the traders came from superior information gleaned from having people and offices in many nooks and crannies of the world that many "respectable" companies didn't have. Even with superior information sources, the traders were still gambling and their gambles, at times, didn't pay off. But many times their trades did pay off and spectacularly so.The authors also elaborate on how for much of the time the traders had no real governmental regulation. They operated globally and made their own rules. The rise of China as an economic power in the 1980s through the early 2010s enabled many very profitable trades for these global players.The book finishes with a review of some of the changes that have diminished, but not eliminated, the power of these global players. China, and others, began to set up their own trading arms to go around the Glencore, Vitol, etc., grip on trading. China also has had its own economic challenges. The US and Europe have begun to exercise some regulatory authority over the traders and information, with the internet has become more widely available, all of which has eroded the edge of the traders, but I don't think they're going away.If the subject interests you, I recommend the book highly. It's highly readable and I got through on a part-time basis in a few days.

I can only say wow. If you don't understand how the world works and who runs it, read this book.

Muito bem escrito e descrito. Traz muitas informações sobre este mundo das tradings mundo afora, além de histórias interessantíssimas!

a very well researched book with all the references made precisely and well explained in the context, the wild world of commodity traders is worth reading and leaves you with some food for thought....

More than a few times i could hardly believe what i was reading.The total lack of any scruples or regard for laws and embargoes was truly incredible. That they could get away with it for so Long defies belief.