The rational cavist
这篇笔记用资产组合方法研究不同葡萄酒的投资价值，帮助投资者根据各自的风险收益特征进行选择。
This note summarizes the results of an empirical investigation of fine wines as an investment. While other literature has examined this investment value in relation to other assets, the present study employs the portfolio approach to help select among different wines that possess separate risk-return characteristics.