Artikel
Gold shares or krugerrands: Which is the better investment?
In this study we examine the performance of krugerrands vis-à-vis gold shares on the Johannesburg Stock Exchange over the period 1980 - 1983. Using the Markowitz portfolio selection model and Sharpe's capital market theory we are able to demonstrate that over the past few years, krugerrands have produced sub-optimal returns for the South African investor. This follows because in each year the investor would have been better off in some combination of gold shares and treasury bills rather than in krugerrands, no matter what risk level he chose. Furthermore, even in the naive case where the investor merely buys the gold share index, krugerrands are shown to be an inferior investment.
- Language
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Englisch
- Bibliographic citation
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Journal: South African Journal of Business Management ; ISSN: 2078-5976 ; Volume: 17 ; Year: 1986 ; Issue: 2 ; Pages: 49-55 ; Cape Town: African Online Scientific Information Systems (AOSIS)
- Classification
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Management
- Event
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Geistige Schöpfung
- (who)
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Affleck-Graves, J. F.
Barr, G. D.I.
- Event
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Veröffentlichung
- (who)
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African Online Scientific Information Systems (AOSIS)
- (where)
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Cape Town
- (when)
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1986
- DOI
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doi:10.4102/sajbm.v17i2.1034
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Affleck-Graves, J. F.
- Barr, G. D.I.
- African Online Scientific Information Systems (AOSIS)
Time of origin
- 1986
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ACE vs. CBIT: which is better for investment and welfare?
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With potential games, which outcome is better?
Letter: Gold shares versus krugerrands
Investment Functions: Which Production Function?
Which Brands gain Share from which Brands? Inference from Store-Level Scanner Data
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Informal versus Formal Search: Which Yields a Better Pay?
Auctions vs negotiations in public procurement: Which works better?
Competition In or For the Field: Which is Better