To Save or Savour: A Review of Wine Investment

James Joseph Fogarty and Rohan Sadler

No 139663, Working Papers from University of Western Australia, School of Agricultural and Resource Economics

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.

Keywords: Financial Economics; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 33
Date: 2012-11-23
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uwauwp:139663

DOI: 10.22004/ag.econ.139663

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