Yes, but you need a home to live in (presumably). You don’t NEED a super-luxury uber-premium wine that is “worthless.”
Don’t get me wrong–I don’t expect a huge burst in a Bordeaux bubble that will suddenly cause a drastic crash in prices. But when you’re talking about futures, esp. for something like 09 Latour which WILL be easy to find on release, the first question is whether the release price will be so significantly higher that it justifies the risk in giving up your money for two years. If the Bordelais set the futures price for 09 Latour such that there’s no real discount to the ultimate release price, then there’s little reason to plunk down the $$$ now for the futures…
Precisely, this is exactly what I mean. Producers and negociants win, but the buyers and the retailers lose. They take money upfront, then everyone else assumes the risk.
The bubble may be hypothetical, but macroeconomic problem propagate on a long time scale. The only way Bdx escapes unscathed is if US and Europe recover by the time Asia really is hit badly. Keep in mind Asia buys lots of US currency to keep the consumer market for its goods strong. I think when the impulse fully impacts Asia, it will spell more trouble for Western economies. That would mean all Bdx markets suffer, though perhaps there are so many markets it won’t make a huge dent.
My thoughts exactly, Todd. What arrogance and hubris on the part of all involved, especially the merchants of Bordeaux. What makes the region so special, in its own mind (let alone the critics whose notoriety has been so linked with the region), that they are making all these pronouncements based on fricking barrel samples. I’ve tasted a lot of wonderful barrel samples over the years (and some dreadful ones), and I’m all too clear as to how unreliable they are in giving a full picture of the final, assembled and barrel- (let alone bottle-) aged wine. Why is this the only wine region of the world that encourages and facilitates these premature pronouncements, and why do so many critics enable them? It turns me off on Bordeaux in general, at least as far as new vintages go. I’m sure it’s starting to turn off a lot of other wine knowledgeable people as well.
The difference is, when sports journalism overhypes prospects, they get drafted too high and I get excited about next season. When wine journalism overhypes, prices go through the roof. One of these two things is enjoyable, the other costs me money.
The other difference is that the pro athelete has to distinguish himself through his play, and on the field no one gives a shit who he was in college. With wine, however, seeing the label and having the knowledge it’s a “great wine” affects the drinker’s perception of the wine.
Nah, not Ryan Leaf, more like JaMarcus Russell - '09 Latour COULD STILL be a good/great wine. Ryan Leaf has no chance. JaMarcus, he has 39 million reasons to not give a rat’s ass.
who gives a shit about a wine hardly anyone can afford or will ever drink. great to see all the FG talk over here after the ebob shutdown i know i know don’t click on it … . .
i know i know don’t click on it … . .