TY  - RPRT
AB  - 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.
AU  - Fogarty, James Joseph
AU  - Sadler, Rohan
DA  - 2012-11-23
DA  - 2012-11-23
DO  - 10.22004/ag.econ.139663
DO  - doi
ID  - 139663
KW  - Financial Economics
KW  - Risk and Uncertainty
KW  - Alternative Assets
KW  - Portfolio Optimisation
L1  - https://ageconsearch.umn.edu/record/139663/files/WP120012.pdf
L2  - https://ageconsearch.umn.edu/record/139663/files/WP120012.pdf
L4  - https://ageconsearch.umn.edu/record/139663/files/WP120012.pdf
LA  - eng
LK  - https://ageconsearch.umn.edu/record/139663/files/WP120012.pdf
N2  - 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.
PY  - 2012-11-23
PY  - 2012-11-23
T1  - To Save or Savour: A Review of Wine Investment
TI  - To Save or Savour: A Review of Wine Investment
UR  - https://ageconsearch.umn.edu/record/139663/files/WP120012.pdf
Y1  - 2012-11-23
T2  - Working Paper
T2  - 1212
ER  -