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David Frenk, Better Markets, Inc.

Frenk et al review both the methodology and the data of a Organization for Economic Cooperation and Development preliminary study by Irwin and Sanders that purports index and swap funds had little impact on prices in energy and agdriculture futures markets. Frenk concludes that the study may be disregarded because its statistical analysis is inappropriate for the data selected and because the study is contradicted by other studies of the same data that used more relevant statistical methodologies.