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To Save or Savour: A Review of Wine Investment

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  • Fogarty, James Joseph
  • Sadler, Rohan

Abstract

It 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.

Suggested Citation

  • Fogarty, James Joseph & Sadler, Rohan, 2012. "To Save or Savour: A Review of Wine Investment," Working Papers 139663, University of Western Australia, School of Agricultural and Resource Economics.
    • Handle: RePEc:ags:uwauwp:139663
    DOI: 10.22004/ag.econ.139663
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    References listed on IDEAS

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