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Appears in Collections:Accounting and Finance Journal Articles
Peer Review Status: Refereed
Title: Portfolio diversification benefits of investing in stamps
Authors: Veld, Chris
Veld-Merkoulova, Yulia V
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Keywords: alternative investments
Issue Date: 2007
Publisher: Institutional Investor Inc. (CAIA Association)
Citation: Veld C & Veld-Merkoulova YV (2007) Portfolio diversification benefits of investing in stamps, The Journal of Alternative Investments, 10 (1), pp. 56-61.
Abstract: In November 2002 Stanley Gibbons, a large British stamp dealer, introduced the SG 100, an index for stamp investments. This index is used to study whether there are diversification benefits for British and American stock investors to invest in stamps. The Capital Asset Pricing Model regression of the mean monthly stamp index excess returns on the excess returns of stock indexes yields positive alphas for both British and American investors. This means that adding stamps to stock portfolios can improve the investment performance of both groups of investors.
Type: Journal Article
Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author; you can only request a copy if you wish to use this work for your own research or private study.
Affiliation: University of Stirling
Accounting and Finance

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