The Golden Dilemma

被引：87

作者：

Erb, Claude B.

Harvey, Campbell R. ^{[1
,2
]}

机构：

[1] Duke Univ, Fuqua Sch Business, Durham, NC 27706 USA

[2] Natl Bur Econ Res, Cambridge, MA 02138 USA

来源：

FINANCIAL ANALYSTS JOURNAL | 2013年 / 69卷 / 04期

关键词：

RETURNS; STOCK;

D O I：

10.2469/faj.v69.n4.1

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Although gold has been around for thousands of years, its role in diversified portfolios is not well understood. The authors critically examined such popular stories as "gold is an inflation hedge." Investors face the following dilemma: The real price of gold is historically very high and may revert to the mean, but if prominent emerging markets increase their gold holdings, the real price of gold may rise even further from today's elevated levels.

引用

页码：10 / 42

页数：33