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	Provedor de dados 31 (1) Autor Masset, Philippe (1) Weisskopf, Jean-Philippe (1) Palavra-chave Alternative assets (1) Conditional CAPM (1) Financial Economics (1) Financial contagion (1) Portfolio diversification (1) Risk and Uncertainty (1) Wine (1) Mais... Tipo do documento Working or Discussion Paper (1) Ano 2010 (1) País United States (1) Idioma Inglês (1)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 1 Primeira ... 1 ... Última RAISE YOUR GLASS: WINE INVESTMENT AND THE FINANCIAL CRISIS 31 Masset, Philippe; Weisskopf, Jean-Philippe. This paper uses auction hammer prices over the period 1996-2009, with a special emphasis on periods of economic downturns, to examine risk, return and diversification benefits of fine wine. Our research shows evidence that the wine market is heterogeneous with wine regions and price categories evolving differently in terms of volume and turnover. We construct wine indices for various wine regions and prices using repeat-sales regressions and find out that fine wine yields higher returns and has a lower volatility compared to stocks especially in times of economic crises. Forming portfolios for typical investors and taking risk aversion, different financial assets and various wine indices into consideration we confirm that the addition of wine to a... Tipo: Working or Discussion Paper Palavras-chave: Wine; Alternative assets; Financial contagion; Portfolio diversification; Conditional CAPM; Financial Economics; Risk and Uncertainty. Ano: 2010 URL: http://purl.umn.edu/90484 Registros recuperados: 1 Primeira ... 1 ... Última

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