The Global Capital Stock. A Proxy for the Unobservable Global Market Portfolio

20 Pages Posted: 13 Jul 2016 Last revised: 12 Oct 2016

See all articles by Gregory Gadzinski

Gregory Gadzinski

International University of Monaco (IUM)

Markus Schuller

EDHEC Business School; International University of Monaco (IUM); IE Business School; Panthera Solutions

Andrea Vacchino

Panthera Solutions

Date Written: October 3, 2016

Abstract

This article summarizes our attempt to measure the current economic stock of a broad universe of risky assets worldwide. Therefore, by measuring the global capital stock of assets, financial and non-financial ones, we intend to provide a proxy for the global market portfolio. We compute the market value of global assets included in 11 asset classes for the period 2005-2015. Despite the lack of data for non-financial assets, we consider our methodologies sound and feel strongly optimistic about future development, which will further reduce the margin of error and then provide a more accurate benchmark for multi-asset portfolios.

Keywords: global capital stock, global market portfolio, alternative assets

Suggested Citation

Gadzinski, Gregory and Schuller, Markus and Schuller, Markus and Schuller, Markus and Schuller, Markus and Vacchino, Andrea, The Global Capital Stock. A Proxy for the Unobservable Global Market Portfolio (October 3, 2016). Available at SSRN: https://ssrn.com/abstract=2808438 or http://dx.doi.org/10.2139/ssrn.2808438

Gregory Gadzinski (Contact Author)

International University of Monaco (IUM) ( email )

2 Av Prince Hereditaire Albert
Stade Louis II/B
Monaco, Monaco MC-98000
United States

Markus Schuller

EDHEC Business School ( email )

58 rue du Port
Lille, 59046
France

Panthera Solutions ( email )

5, Avenue Saint Laurent
Monaco, 98000
Monaco

HOME PAGE: http://www.panthera.mc

International University of Monaco (IUM) ( email )

2 Av Prince Hereditaire Albert
Stade Louis II/B
Monaco, Monaco MC-98000
United States

IE Business School ( email )

Castellon de la Plana, 8
Madrid, 28006
Spain

Andrea Vacchino

Panthera Solutions ( email )

49, Av Hector Otto
Monaco, 98000
Monaco

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