VOLUME 12 2012 NUMBER 1

Portfolio theory application wtih gold numismatic assets and precious metal
Camilo Prado Román* / José Luis Coca Pérez** / Pablo García Estévez*
Universidad Rey Juan Carlos* / Universidad de Extremadura**
Our objective is to build different Precious Metals (gold, silver, palladium, platinum and rhodium) and Gold Numismatic Asset Portfolios. The purpose is being able to build the best portfolio for the different investors and to know The Market Portfolio. For that, by means of The Portfolio Theory methodology (Markowitz, 1952; 1959), we build the efficient frontier and we will trace the Capital Market Line, CML. The program we use is Matlab (financial Toolkit). Research sample is composed by gold numismatic assets and precious metals. Those assets have been issued by Spain, USA, Great Britain and France from 1900 to 2009, and the research period is to 2003-2009. The results obtained confirm those not financial assets selected to build the efficient portfolio and the Market Portfolio.
KeyWords: Collectible Tangible Asset; Precious Metals; Portfolio Theory; Market Portfolio
DOI: 10.5295/cdg.100201cp
Bibliographic: PRADO C., COCA J.L., GARCIA P.: "Aplicación de la teoría de carteras con activos numismáticos y metales preciosos", Cuadernos de Gestión Vol. 12 - N.º 1 (Año 2012), pp. 123-143. DOI: 10.5295/cdg.100201cp
JEL Classification: G11


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