Rethinking Wine Investment in the UK and Australia
This article presents three arguments as to why the value of wine as an investment good has typically been understated and argues that wine investment in the UK and Australia represents a value proposition. It is argued that general all vintage wine indexes understate the return the typical investor receives; that comparisons using pre-tax returns overstate the value of standard financial assets relative to wine; and that wine investment provides value in terms of allowing portfolio risk to be reduced.
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- Olivier Ledoit & Michael Wolf, 2001.
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Economics Working Papers
586, Department of Economics and Business, Universitat Pompeu Fabra.
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