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Weininvestment- Profitieren Anleger von der Berücksichtigung öffentlich zugänglicher Informationen?

Author

Listed:
  • Egon Franck
  • Martin Kukuk
  • Stefan Winter

    (Institute for Strategy and Business Economics, University of Zurich
    University of Würzburg,
    Ruhr-University of Bochum)

Abstract

Berichte über phänomenale Preissteigerungen bei feinen Weinen in der zweiten Hälfte der 90er Jahre haben die Frage aufgeworfen, ob sich Weine als Kapitalanlagen eignen könnten. Während diese Frage bezogen auf den Durchschnitt aller Weine sicher zu vernei-nen sein dürfte, ist dennoch nicht ausgeschlossen, dass Weine mit bestimmten Charakteristika identifiziert werden können, die als Kapitalanlage geeignet sein könnten. Anhand einer Stichprobe mit Zeitreihen von Preisen für 1234 Weine aus dem Bordelais geht der Beitrag der Frage nach, ob es öffentlich verfügbare Informationen gibt, die eine Weinauswahl erlauben, die unter Risiko-/Renditegesichtspunkten einer Zufallsauswahl von Weinen überlegen ist. Unsere Stichprobe liefert deutliche Hinweise dafür, dass dies der Fall ist.

Suggested Citation

  • Egon Franck & Martin Kukuk & Stefan Winter, 2004. "Weininvestment- Profitieren Anleger von der Berücksichtigung öffentlich zugänglicher Informationen?," Working Papers 0030, University of Zurich, Institute for Strategy and Business Economics (ISU).
    • Handle: RePEc:iso:wpaper:0030
    as

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    File URL: http://repec.business.uzh.ch/RePEc/iso/ISU_WPS/30_ISU_full.pdf
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    References listed on IDEAS

    as
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