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The Risk-Return Characteristics And Diversification Benefits Of Fine Wine Investment, Tania Salomon
The Risk-Return Characteristics And Diversification Benefits Of Fine Wine Investment, Tania Salomon
CMC Senior Theses
This thesis evaluates the risk-return characteristics and diversification benefits of fine wine investment. It compares the historical performance of wine to that of equity, fixed income, real estate, and commodities. I calculate the correlation, volatility, and expected returns of these assets to examine whether adding wine to a portfolio increases its risk-adjusted return. I do this through the Markowitz portfolio optimization technique. The findings suggest that wine has a low correlation with traditional assets, providing diversification benefits. My results also show that adding wine to a portfolio increases its risk-adjusted return only when there is an allocation constraint of 0 …
Indian Microfinance Sector: A Case Study, Sean P. Gillon
Indian Microfinance Sector: A Case Study, Sean P. Gillon
Honors Theses and Capstones
In developing areas of the world with very little economic structure, many activities are not monetized. In other words, money is not used to carry out these tasks because the people in these areas do not have the expendable funds required. In order to combat this problem, micro financing has become increasingly more apparent in these areas of distress. Microfinance is an economic development strategy that allows for those in need to borrow actual money in order to start a business, go to school, or even gain access to everyday living requirements. Microfinance has made tremendous strides over the years, …