In CFA Level Reading 45
Commodities include precious metals, energy products, industrial metals, and agricultural products. Real assets are tangible properties such as real estate, airplanes, or machinery. Securities, currencies, and contracts are classified as financial assets whereas commodities and real assets are classified as physical assets.
So commodities is not a real asset? Commodities and real assets are part of physical assets?
Mine q is off topic, but this basic rudimentary question about CAPM is "quantitative finance"? Oh please.
– Ben Oct 29 '15 at 05:46