In this series of extracts from the concluding chapter of Acharya’s book, Asset Management: Equities Demystified, the author argues that the major factor in future developments will be legislation and regulation. But she suggests that ultimately knowledge management will be the crucial...

Using historical price records for Bordeaux Premiers Crus, we examine the impact of aging on wine prices and the long-term investment performance of fine wine. In line with the predictions of an illustrative model, young maturing wines from high-quality vintages provide the highest financial...