Study On Investment Strategy Of Commodity Futures And Risk Control

China’s future market is developing very quickly in recent years, both tradingvolume and trading varieties are very huge.CSRC formally approved the FuturesCompany can carry out asset management business，the policy is expected to changethe profitability of Chinese future company. But Asset management is aDamolisi sword, how to find an effective investment theory and a risk control strategyare more important than this policy.Firstly，this paper based on the theory of graham stock investment’s margin ofsafety, and combined with the characteristics of commodity futures, puts forward a setof futures investment theory based on the margin of safety, and connecting with thepractice of our investment for a detailed discussion on how to apply the theory. thispaper is divided into six chapters: The first chapter is introduction; The secondchapter is the introduction to the theory of futures investment and margin of safety;The third chapter is put forward the futures investment theory of margin of safety anddevelop investment strategy; The fourth chapter is the futures company to engage incommodity futures investment risk control research; The fifth chapter is commodityfutures investment case analysis based on the theory of the margin of safety; Thesixth chapter is conclusion and prospect.Through theoretical research and case analysis, the author established thefutures investment decision analysis model based on the theory of the margin ofsafety, and connecting with the practice of our portfolio, commodity futuresinvestment risk and its control strategy is proposed.The author’s standpoint is: Firstly,find price contradiction; Secondly, identify the price overvalued or undervalued.Thirdly, to identify the price’s main driving factors; Fourthly, to establish indextracking system; Fifthly, to develop investment strategy and rating; Sixthly, dominantfactors determine when to entrance the market; Seventhly, dynamic tracingmonitoring indicators and adjust rating. Investment theory provides a way ofthinking and direction, is not necessarily decided the investment results, so investors should be constantly amended in practice and make up for the defect of the theoryand the gap between them.