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Reuters: Saft on wealth: drink, don’t hold, fine wine

James Saft looks at investment in fine wine. “Though wine has, at least on some measures, outperformed many other assets like art, stamps and bonds over the past 100 plus years, high transaction costs and volatility make a strong case for pleasure,” he says. The research of Professor Elroy Dimson, Research Director (Finance & Accounting) at Cambridge Judge Business School, is mentioned in the article.

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