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Notations | |
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Foreword | |
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Author's Preface | |
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Publisher's Preface | |
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Acknowledgements | |
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Introduction to Fine Wine Investment | |
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Fine Wine Investment | |
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A Brief History of the Bordeaux Wine Market | |
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Marketing and Distribution in the Bordeaux Wine Market | |
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Fine Wine Investment Today | |
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The Primary Market: En Primeur | |
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The Secondary Market: Auctions and Alternatives | |
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Trading Strategies: Blue Chip Fine Wine versus Blue Chip Stocks | |
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Critical Analysis of the Performance of Fine Wine | |
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The Alternative Investments Market | |
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The Relationship between Price and Quality | |
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The Case Against Alternative Investments | |
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The Case Supporting Alternative Investments | |
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The Performance and Investment Potential of Fine Wine | |
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The Effect on the Rate of Return of Incidental Costs and Benefits | |
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Review of Portfolio Theory and Diversification | |
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Critical Review of Modern Portfolio Theory | |
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Critical Review of Portfolio Diversification | |
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Critical Review of Literature on Portfolio Diversification | |
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Critical Review of Optimal Asset Weights and the CAPM | |
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Methodology and Data Analysis | |
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Introduction to the Data | |
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Calculating the Returns on Alternative Investments | |
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Compilation of the Fine Wine 50 Index | |
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Optimal Portfolio and Asset Allocation Methodology | |
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Critical Evaluation and Interpretation of Results | |
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Expected Return, Standard Deviation and Compound Growth Results | |
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Correlation Coefficient Results | |
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Optimal Risk-Return Efficient Portfolio Results | |
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Sharpe Ratio Results | |
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Beta Value and Capital Asset Pricing Model Results | |
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Underlying Logic to Portfolio Diversification | |
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Risk Assessment of Fine Wine Investment | |
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"Return Is Only Half the Equation" and RiskGrades | |
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Calculating RiskGrades | |
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RiskGrades & Application to Fine Wine Investment | |
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Risks Associated with Fine Wine Investment | |
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Conclusion, Recommendation, Further Issues | |
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Characteristics of a Good Investment Portfolio | |
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Additional Alternative Investment Issues | |
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Appendixes | |
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Price Variation of the 1982 First Growths Since Release | |
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Compilation of the Fine Wine 50 Index | |
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Expected Return Results for UK Data | |
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Standard Deviation Results for UK Data | |
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Compound Growth Rate Results for UK Data | |
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Correlation Coefficient Results for UK Data | |
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Optimal Risk-Return Efficient Portfolio Results for UK Data | |
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LIBOR versus Optimal Portfolio Results for UK Data | |
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Maximum-Return Portfolio Results for UK Data | |
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Minimum-Risk Portfolio Results for UK Data | |
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Optimal Risk-Return Efficient Portfolio Results for UK Data | |
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Maximum-Return Portfolio Results for UK Data | |
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Minimum-Risk Portfolio Results for UK Data | |
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Sharpe Ratio Results for UK Data | |
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Beta Results for UK Data | |
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CAPM Results for UK Data | |
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CAPM Analysis for UK Data | |
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Expected Return Results for UK and US Data | |
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Standard Deviation Results for UK and US Data | |
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Compound Growth Rate Results for UK and US Data | |
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Correlation Coefficient Results for UK and US Data | |
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Optimal Risk-Return Efficient Portfolio Results for UK and US Data | |
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Risk-Free Investment versus Optimal Portfolio Results for UK and US Data | |
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Maximum-Return Portfolio Results for UK and US Data | |
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Minimum-Risk Portfolio Results for UK and US Data | |
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Sharpe Ratio Results for UK and US Data | |
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Beta Results for UK and US Data | |
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CAPM Results for UK and US Data | |
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CAPM Analysis for UK and US Data | |
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RiskGradeTM Results (I) for UK and US Data | |
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RiskGradeTM Results (II) for UK and US Data | |
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RiskGradeTM Results (III) for UK and US Data | |
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References | |
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Books | |
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Academic Papers | |
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Non-Academic Articles | |
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Bibliography | |
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Books | |
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Academic Papers | |
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Non-Academic Articles | |
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Internet Sites | |
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Resources For Fine Wine Investors | |
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Index | |