To Save or Savour: A Review of Wine Investment
AbstractIt has been argued that adding wine to an investment portfolio provides a diversification benefit. There is not, however, agreement on how the return to wine should be estimated. Nor is there agreement on a standard approach to test for a diversification benefit. By considering different approaches to estimating the return to wine and testing for a diversification benefit it is shown that claims wine provides a diversification benefit should be treated with caution.
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Bibliographic InfoPaper provided by University of Western Australia, School of Agricultural and Resource Economics in its series Working Papers with number 139663.
Date of creation: 23 Nov 2012
Date of revision:
Alternative Assets; Portfolio Optimisation; Financial Economics; Risk and Uncertainty;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-01-07 (All new papers)
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